turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

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.
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

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

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies