Do I need to report a sold vehicle if it was sold for less than what it was purchased for

I had sold a car to a vehicle junking company. I bought the vehicle for 1,500 and sold it for 400

posted

No. The sale of the car does not need to be reported on the tax return. If you used it for a business, you will need to report the sale of business property.

@dbzmaster23

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Does any one please know how to report the purchase and sell of foreign currency (CNY). Should it be 1040? I can't locate a place to add additional 1040 income.

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Do I need to report a sold vehicle if it was sold for less than what it was purchased for

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