When you sell the vehicle, TurboTax will prompt you to enter the accumulated depreciation deducted for the vehicle. The program may provide you with the number also. Then, you will be asked for the sale price. Your gain or loss will then be calculated by subtracting the cost of the vehicle, net of the depreciation, from the sale price. You will have a taxable gain or deductible loss, adjusted for the business use percentage of the vehicle.
You need to access the Asset/Depreciation section for the business you are working on and edit the vehicle you disposed of to see the option for recording the sale of the vehicle.
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