DianeW777
Expert Alumni

Business & farm

The sale of a business vehicle is reported as follows: 

 

Be sure to mark the vehicle as converted to personal use

 

Next enter your Sale of Business Property

  1. Income at the top
  2. Scroll down to Other Business Situations
  3. Select Sale of Business Property
  4. Select Sales of business or rental property that you haven't already reported.
  5. Answer 'Yes' to Do all of the following apply...?
  6. Enter your sales information, do not make an entry for depreciation (no zeros)
    1.  Description of the Property (Vehicle made/model/year)
    2. Sales Price/Sales Expenses 
    3. Date acquired and date sold
    4. Sales Price
    5. Cost
    6. Depreciation
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"