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Business Vehicle Sold - Used by my husband and I

Monet319 — Tue, 24 Feb 2026 06:59:22 GMT

Hello - both me and husband used the same vehicle for 1099 food delivery work. We sold the vehicle and I am not sure how to report the sale for the capital gain/loss calculation. Would I report on only one of our Schedule C's and if so, how do I determine which one to put it on. Thank you!

Re: Business Vehicle Sold - Used by my husband and I

Anonymous_ — Sun, 09 Jul 2023 15:18:22 GMT

How did you handle the expenses when the vehicle was being used for each business?

Perhaps you may want to allocate the gain/loss in the same proportion.

Re: Business Vehicle Sold - Used by my husband and I

Opus 17 — Sun, 09 Jul 2023 16:46:33 GMT

Was it purely a business vehicle or also a personal vehicle? If it's a personal vehicle, you can't deduct any loss, you just need to figure out if you have depreciation to recover. You first need to know the amount of depreciation you claimed, over however many years you used the car in business. The depreciation was claimed as a vehicle expense on your schedule Cs, or if you used the standard mileage rate, part of the mileage rate is counted as depreciation (exactly how much is given in a table in publication 463.)

https://www.irs.gov/forms-pubs/about-publication-463

Pub 463 also has the rules for calculating recapture when a personal car partly used for business is sold.