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How to enter a loss on a business vehicle due to impound?
I am partially self-employed and use my personal vehicle for business purposes. My business vehicle was towed and impounded last fall, and the impound lot auctioned it and recovered a couple hundred dollars. I ended up still owing $1200 in fees to the city and impound lot. How do I record this loss in TurboTax?
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March 31, 2020
8:30 PM