I think that you are saying that in 2020 you used your vehicle on a part-time basis as rideshare self-employment.
Then, in 2020, you stopped the rideshare self-employment. Finally, in 2020, you sold the vehicle.
Vehicles are listed property about which the IRS requires special, sometimes significant disclosure. If you uncheck the box that says ‘I stopped driving this vehicle in 2020’, you are not notifying the IRS of a routine disclosure that the IRS requires of listed property.
IRS Publication 534 explains that listed property is (in part):
- Any passenger automobile (defined later).
- Any other property used for transportation.
Find Listed Property Defined down the left hand side of the page.
Checking the box that says ‘I stopped driving this vehicle in 2020’ allows TurboTax to report this listed property as the IRS requires.
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