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Removing a car that was repossessed, not sold, the form has it appear as a Sale of Business Property and not a loss? How can I fix that?
My car was a business use car that was repossessed in November of 2020. I've not figured out this basis business yet, but when I fill out the rest and leave that screen, I return to the summary of Income and Expenses which shows this car repo as a Sale of Business Property which is a "penalty" against my possible refund. How can I properly report this car as repossessed and not sold?
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‎July 6, 2021
11:56 AM