Solved: Do I need to report a car sold if I got it as work compensation?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
PiratesFan
New Member

Do I need to report a car sold if I got it as work compensation?

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.
1 Best answer

Accepted Solutions
MichaelMc
New Member

Do I need to report a car sold if I got it as work compensation?

I would like to refer you to this answer by my colleague TurboTaxDwayneM:

https://ttlc.intuit.com/replies/4362473

View solution in original post

1 Reply
MichaelMc
New Member

Do I need to report a car sold if I got it as work compensation?

I would like to refer you to this answer by my colleague TurboTaxDwayneM:

https://ttlc.intuit.com/replies/4362473

View solution in original post

Dynamic AdsDynamic Ads
v
Privacy Settings