topic Deductions- car valuation info unavailable in Get your taxes done using TurboTax

Deductions- car valuation info unavailable

marylangmt — Wed, 31 Mar 2021 23:37:57 GMT

Hi- are you only answering questions about tax refunds? My question is about deductions.

I sold a car last year that I used for business. It wants me to input the value of the car at the time I started using it for business (2017). I called Kelley Blue Book, and they told me that they did not have any records on car models earlier than 2009. Mine was a 2008, so they do not have the info. What do I put, or is there anywhere else I could get this info?

Re: Deductions- car valuation info unavailable

ErnieS0 — Thu, 01 Apr 2021 00:09:18 GMT

You could try a local car dealer who sells that brand. Or speak with the auto repair shop that works on your car.

Alternatively, you can probably use the 2009 model information if your car did not have a major upgrade or change. Most models are similar for three or four years of a production run and then get retooled when they get "stale".

Re: Deductions- car valuation info unavailable

marylangmt — Sat, 17 Apr 2021 16:24:14 GMT

Thank you.

I have received the Kelley Blue Book info for the 2009 model, but there are so many numbers on it. How do I know which one to use? This is more confusing than I was hoping it would be.