topic Do I need to report a car sold if I got it as work compensation? in Deductions & credits https://ttlc.intuit.com/community/tax-credits-deductions/discussion/do-i-need-to-report-a-car-sold-if-i-got-it-as-work-compensation/01/83183#M9502 I received a car from work as a form of "bonus," but it was listed on my W2 as income. All the taxes related to the car were paid by my company. I then sold my car for less than the cost that it was purchased for. Do I have to report that anywhere? I would not think so. It was purchased for 43K+ taxes and sold for low 30's. Thanks in advance. Sat, 01 Jun 2019 03:11:29 GMT PiratesFan 2019-06-01T03:11:29Z Do I need to report a car sold if I got it as work compensation? https://ttlc.intuit.com/community/tax-credits-deductions/discussion/do-i-need-to-report-a-car-sold-if-i-got-it-as-work-compensation/01/83183#M9502 I received a car from work as a form of "bonus," but it was listed on my W2 as income. All the taxes related to the car were paid by my company. I then sold my car for less than the cost that it was purchased for. Do I have to report that anywhere? I would not think so. It was purchased for 43K+ taxes and sold for low 30's. Thanks in advance. Sat, 01 Jun 2019 03:11:29 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/do-i-need-to-report-a-car-sold-if-i-got-it-as-work-compensation/01/83183#M9502 PiratesFan 2019-06-01T03:11:29Z I would like to refer you to this answer by my colleague... https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-would-like-to-refer-you-to-this-answer-by-my-colleague/01/83206#M9510 <P>I would like to refer you to this answer by my colleague TurboTaxDwayneM:</P><P> <A href="https://ttlc.intuit.com/replies/4362473" target="_blank">https://ttlc.intuit.com/replies/4362473</A> <BR /> </P> Sat, 01 Jun 2019 03:11:31 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-would-like-to-refer-you-to-this-answer-by-my-colleague/01/83206#M9510 MichaelMc 2019-06-01T03:11:31Z