Several years back I used a personal vehicle for some rental property related matters. Still have the property but not using the vehicle for that purpose. TT however doesn't ask about this but just continues to bring in the Car and Truck Expense Worksheet which only shows up during the Federal Review stage, and then I'm too answer various questions which are essentially N/A now.
The vehicle can be removed from service by taking the steps below and it will not carry over to another tax year. Please remember until this vehicle is sold, traded or junked it must be a taxable recordkeeping item. If any of those actions occur it will be a taxable event.
When reviewing your vehicle information be sure to select 'Your percentage of business use of the vehicle varied over the years.' Next select Yes 'Did you convert the asset to nonbusiness use?' This should eliminate any sales questions and you can use 01/01/2024 as the date of the conversion .
Open your TurboTax Desktop or TurboTax Online return
Once completed it should not carry forward to 2025.
Hi Diane. Thanks for the detailed reply. I don't seem to have a Business Vehicle option to select anywhere under the rental. Would posting a screenshot here help? Any ideas on how else to navigate to that?