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Deductions & credits
This would be helpful if the same prompts came up. As of step #10, there is no prompt asking if I am still using this vehicle for business. Instead, I clicked the box "I stopped using this vehicle in 2018 and entered the appropriate date.
From this point, I get through all prompts and it asks get to a screen asking if any of these apply:
"You started using it as a personal vehicle 100% of the time at any point in 2018" [I left blank - does not apply]
"Your percentage of business use of the vehicle varied over the years" [I left blank - does not apply]
"You gave it away as a gift in 2018" [I left blank - does not apply]
"None of these" [I selected this option]
I then get to a screen asking for Sales price. This is where I am stuck. The trade-in value was $13,000, of which 7,493 was to pay-off the loan. The remaining "credit" was applied against the purchase of the new vehicle. No matter how I tweak the numbers, the checker has me running in circles, telling me I need to complete a Schedule C, then some other form of Installment payments, etc. None of this applies. I understand with new tax law, I am liable to pay income tax against the "credit" amount, but using TurboTax, I simply cannot get there. HELP!!!!!!