I stopped using my car on July 14th, 2020 due to an off the clock car accident that resulted in my car being totaled.
I bought the car in 2018, and my car insurance paid off my loan and gave me a little over $2700 to help me buy a new car.
Do I file this vehicle on my taxes? How would I file this on my taxes?
What sell price do I put it as?
Do I go based off of the price the insurance paid to settle my loan?
They settled my loan for a little over $11,000.
Does this make sense? Thank you.
