You need to treat one vehicle at a time in TurboTax.
For the auto you sold, find the vehicle under "Business Vehicle Expense" in the area where you report your business income and expenses. When you edit that entry, you will see an option for "I stopped using this vehicle for business". Click on that option and you will be prompted to report the sale information for the vehicle.
The insurance proceeds will be your sale amount for the vehicle you lost. TurboTax will calculate a gain or loss on the disposition based on what your undepreciated balance (basis) was in the auto you lost, netted against the insurance proceeds.
For the new vehicle, you will go in the same section and set up a new vehicle like you did for the one that you lost.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
