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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.
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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

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