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The amount you still owed has no affect on how things are reported.  The GAP insurance is also not part of the calculation.     The three numbers you need are: your cost basis, the amount you sold it for which in this case is what the insurance company paid you and,   percent of business usage   Your cost basis is what you paid times the percentage of business use of the car minus depreciation.  So if you bought the car in 2023 and took the full depreciation in the first year, then your cost basis is $0 and your selling price is $10,000 IF the car was 100% used for business.  This would give you a gain on the sale of $10,000.  If the car was 50% used for business, then you would have a $5,000 gain on the disposition of the vehicle that would be reported on your Schedule C.     When you first enter your business info, you will be asked if any of these apply, one option will be did you start or stop doing this business in 2025?  Here you can select yes, I stopped doing Door Dash in 2025.    If you used standard mileage deduction in previous years on this vehicle, you would depreciate your vehicle using the cents per mile allocated to depreciation based on the year. You can find this on your previous year Schedule C worksheets.  The portion of the business standard mileage rate treated as depreciation is: 27 center per mile for 2020  26 cents per mile for 2021 & 2022 28 cents per mile for 2023  30 cents per mile for 2024  33 cents per mile for 2025   If you used actual expenses, then you would look at your forms from last year to see your total depreciation taken on the vehicle. You will find this on the depreciation worksheet. If you took an accelerated depreciation method  The new car also does not have an affect on your situation with reporting the disposal of your wrecked car. To enter the disposition of a business asset take the following steps:  go to the Self-Employment section and select edit next to your vehicle.  Go through the steps and check the box that says I stopped using this vehicle in 2025 You will need to say you sold this vehicle When you are asked for the sales price enter any insurance payouts you received.  Continue through answering the questions so that the property and any payouts can be properly allocated      

@Bwana_Jones wrote: Thanks for that information; this is very helpful. That said, if I am going to have to use another application to replace It's Deductible, then I have one less reason to remain an Intuit customer. Cheers. H&R Block is less expensive, for example, but you still need to enter each item manually. The program will value the item(s) for you, but you have to enter each one.

Can you clarify your question.  Are you trying to determine the amount of Income in Respect of Decedent (IRD) to include in the assets of a taxable estate?  If not, what are you trying to determine?  

Thanks for that information; this is very helpful. That said, if I am going to have to use another application to replace It's Deductible, then I have one less reason to remain an Intuit customer. Cheers.

Hi my token is 1326348   I am preparing my 2025 TurboTax Online return and I noticed that my Form 8995, line 3 – Qualified Business Income (QBI) carryforward from prior year is showing, but this is incorrect. My QBI loss from 2024 was fully used last year, so there should be no carryforward into 2025.   I am able to see or access the QBI carryforward option in TurboTax Online but the old “Other Business Situations” menu has been removed from your past interface, so I cannot manually change the number. Could you please fix this bug and/or manually update Form 8995 line 3 to $0 so that my 2025 return correctly reflects that there is no carryforward?  I want to ensure my 2025 QBI deduction is calculated correctly and that future carryforwards are not overstated.    

Yes, you can subscribe to Audit Defense from TurboTax Online. The option will be proposed to you during the filing process in the File section.   This service, provided by TaxAudit, offers full representation by tax professionals if you are audited.    Please read this TurboTax/TaxAudit document.    

 I have done all that. However IRS requires a QMID code, part of line 25. I cannot find any QMID code for any electrical panels. Also the installers don't know about QMID codes. Even for the Mitsubishi Mini split that I did find the code for.     Thank you Barrie

Unfortunately, we can't refund for a program you purchased as Sam's Club.  However, if the License Code doesn't work, you can Contact TurboTax Support about a free download.   What happens when you enter your license code?  If you can give more details, we'll try to help.     There's a couple things you can try, if you haven't already:   Use cut/paste to enter the code (could be error with 0 or "O", or extra space, etc. when typed) Right-Click the TurboTax Icon and 'Run as Administrator' Use the cursor and not the touch screen Change the screen resolution if the box doesn't accept input   @randynelson504   

Thank you for your reply.   It looks like the only difference is in the section for community property tax withholding adjustments. No matter what I do in Easy Step, for me there is just a total number at the bottom of the screenshot, but for her there is a subtotal in 13d as well. I think I need to get rid of that subtotal, but how?

@Bwana_Jones wrote: I will be looking for an alternative for my 2026 taxes. You won't find one because no other DIY tax prep software company offers any tool/feature like ItsDeductible.                           !@#$%.