I have used 1 vehicle for 2 businesses (Business "A" & Business "B"). I sold Business "A". I continue to use the vehicle for Business "B".
I own the vehicle. It was (and is) available for personal use. I had another vehicle available for personal use. I tracked work miles for both businesses and tracked personal miles for the vehicle. I always took the standard mileage deduction for both businesses.
The year-on-year average percentages of business use and personal use varied a small amount. The average for Business "A" is about 6%
Under "Vehicle Expenses" for Business "A" I checked box "I stopped using this vehicle in 2024. And entered the date that Business "A" was sold.
Is the correct way to record it as no longer being used for Business "A" to select "You started using it as a personal vehicle 100% of the time at any point in 2024"? And the "Yes" on the "Conversion to nonbusiness use" screen?
I appreciate all replies!
