Re: Stopped Using Vehicle for Business
Employee Tax Expert

Get your taxes done using TurboTax

The best practice would be to dispose of the asset when you are no longer using it. 

 

To do this in TurboTax,

  • from the left menu, select Federal>
  • Income & Expenses>
  • Self-Employment Income & Expense click Revisit>
  • Pick your business and click Edit>
  • Scroll down to the expenses to Vehicle and click Edit
  • On the Vehicle Summary, next to the vehicle, click Edit
  • Check the box for I stopped using this vehicle in 2019

 

 

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