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Business & farm
If you no longer use the vehicle and plan not to use it again, you may report that you stopped using for business use.
- Open your return and navigate to the Self-Employment section and continue to the list of businesses in your return.
- Click Edit beside your business.
- Follow the prompts until you reach the Business Summary page.
- Scroll down to Business Vehicle Expense (or Cars, Trucks, and other vehicles) and click "Start/Update".
- Continue to the Vehicle Summary page.
- Click Edit beside the vehicle you need to change.
- Check the box at the bottom to indicate you stopped using it for business and enter the date.
- Continue through the interview to enter your mileage and expenses, if any.
- Continue to the page "Sales Price."
- Since you converted your vehicle to personal use, leave both the sales price and expense of sale fields blank (see the blue link "how to determine sales price).
- Continue through the interview to the end.
- Be sure to read each page of the interview and heck the blue "Learn More" links for additional help.
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‎February 14, 2025
12:51 PM