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Need help with disposition of a car used for Sch C and E business use
I used a 2014 personal car for business mileage in 2014 to 2016 and charged the standard mileage rate. In 2017, I did not use the 2014 car for business purposes but I did trade the 2014 vehicle in for a 2017 personal truck that I am currently using for the same business. (Note:only 20% of truck use is business).
1. Do I need to file schedule E car and truck expense worksheet for the 2014 car? I did not use the 2014 car for business in 2017.
2. Turbo tax wants me to fill out a form 8824 Like Kind Exchange? do I need to do this?
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‎June 1, 2019
10:36 AM