DianeW777
Expert Alumni

Self employed

Your car was given away for zero dollars so TurboTax needs to know the car is no longer a business asset.  You can do the following.

  1. In the vehicle on your tax return you can check the box that it was converted to personal use. This will remove it for future years.
  2. If you had received any money for it, then you could also report a business sale, but since you didn't receive any money there is nothing else to do.

Open your TurboTax Desktop return

  1. Select Business Income and Expense
  2. Edit beside your business
  3. Select Business Vehicle > Edit
  4. Enter the date you gave it away
  5. Continue to finish your vehicle screens
  6. See the image below.

                

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