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.

keo2k
New Member

I am entering the business expenses for a car I DID own in 2016 but I sold. Do I list it as I own it or that the vehicle isnt mine since it's sold now?

 
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 Reply
Carl
Level 15

I am entering the business expenses for a car I DID own in 2016 but I sold. Do I list it as I own it or that the vehicle isnt mine since it's sold now?

You'll indicate you own it. Note that as you work through the vehicle expenses section, you will click the YES button on the screen, "I stopped using this vehicle in 2016". You are entering expenses for the period of time you owned it. You'll also be asked for the date of sale or other disposition. You can only enter expenses for that specific vehicle, up to the date the business disposed of it.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies