@MarilynG1 Thank you very much for your reply. I always import my returns from the previous year into each year's TT. I have further questions.
1. Would me deleting and re-entering this information mess anything up in the rest of the return? TT even states that "because you transferred... we have enough info..." so it is using data I had input in previous years.
2. I bought the older car in 2006, how could I find out the FMV at that time, would I have to pull my 2006 tax return?
3. I didn't put the total amount I received as "sales price" because the software instructed me to show the BUSINESS PORTION only - should I change that to what I actually got for the trade-in?
4. I also don't understand how the trade-in value of an old car is taxable income? Is that correct? "since it is a gain, it is taxable income" - maybe I've made an error somewhere?
5. What would happen if I just deleted the vehicle entirely? I have been using my new one for business for several months.
Thanks again.
