- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
- 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.
- 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
- Select Business Income and Expense
- Edit beside your business
- Select Business Vehicle > Edit
- Enter the date you gave it away
- Continue to finish your vehicle screens
- See the image below.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 18, 2025
7:15 AM