While I do agree with Opus_17's response, things can get complicated when actions pertaining to this cross tax years.
If the vehicle was repo'd in 2020 and you did "NOT" receive a 1099-C - Cancellation of Debt for tax year 2020, then the vehicle is not yet sold. You'll indicate that it was removed from the business for personal use and leave it at that.
Then when/if for 2021 or a later tax year you get a 1099-C, you'll report the sale then for the amount on the 1099-C. You just reduce your cost basis in the vehicle by any depreciation already taken on the vehicle while it was a business asset. Then if your 1099-C value is more than that cost basis you have a taxable gain. If less, then you have a non-deductible loss.
