I traded my lease vehicle for the exact amount owed as a payoff. My state return is treating this as a capital gain. what am I doing wrong?

[DianeW777]

It depends. Since this is a leased vehicle you may have to review the federal return in the vehicle asset to make sure there is nothing indicating it was owned. It may be a good idea to print your return before filing.

You have access to all forms when you choose to print your return in TurboTax Online/Mobile.  However you are required to pay before printing, but do not have to file until you are ready.

• Can I print a copy of my return in TurboTax Online before filing?

If you are using TurboTax Desktop you can switch to Forms and review all forms and worksheets.

[Edited: 03/26/2025 | 1:03 PM PST]