Please see the instructions below for disposing of your business asset:
- Click Business on the Tax Timeline
- Click "Start" (or revisit) next to Business Income and Expenses
- Scroll down to the Business Assets section and click "Start" (or edit/revisit).
- You should see your vehicle listed, and you will choose to Edit that vehicle.
- Follow the prompts until you get to the Tell Us About This Asset entry. You'll see a box to check if you sold, retired, disposed of, converted to personal use.... this vehicle.
- You will then enter the date you sold or retired it from use.
- ·Answer the remaining questions about the vehicle.
