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Sale of car used in business (1099 employee) - how would it impact my taxes?
Hi,
I am a 1099 employee and I bought a car in 2021.
I deduct the depreciation of the vehicle as an expense.
If I sell this car in 2023 and buy a new one, how would it impact my taxes?
Would I have a sort of a penalty on the depreciation taken?
Thanks
‎August 30, 2023
9:29 AM