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Do I report sale of car? The LLC owned the car and the loan was in the LLC name. I paid $6.5K for the car (loan). Sold for $6k. std mile. gain is 6k?
cindybarber2
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Do I report sale of car? The LLC owned the car and the loan was in the LLC name. I paid $6.5K for the car (loan). Sold for $6k. std mile. gain is 6k?
Since I used std mileage, I never put the purchase price of the car in the expenses. why is there a gain now?
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TurboTax Self Employed Online
February 4, 2021
12:23 PM
