saluki88
New Member

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?