Thank you for your answer and you have accurately described how to do this from a tax standpoint, but not how to physically enter this information into TurboTax. "You report gain or loss from a repossession on the same form you used to report the original sale. If you reported the sale on Form 4797, use it to report the gain or loss on the repossession.". Yes this is correct, but how do you do it in TurboTax?
