My question seemed slightly nuanced compared to others despite covering similar terroritory:
I was in an at fault accident with my personal / business vehicle in late 2017. The insurance settled and I was paid for the totaled vehicle. I put that into my bank account and started saving for an upgrade and eventually purchased a new vehicle in Jan 2018.
Because I was at fault and I didn’t replace the vehicle in 2017, as far as turbo tax is concerned did I “sell it” where I have to report that money as income, denote a sales price of the car / expense of sale, and report a basis gain / loss? And can I report any other loss for the vehicle?
