- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
If a donated boat has no odometer how can I complete Form 1098C which requires and odometer reading?
Topics:
posted
June 4, 2019
4:06 PM
last updated
June 04, 2019
4:06 PM
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
If a donated boat has no odometer how can I complete Form 1098C which requires and odometer reading?
Enter "999999" as the odometer mileage (or the reading on the Hobbs meter, if installed).
(A Hobbs meter records the number of hours the engines have operated).
Boats and airplanes don't have odometers, so your entry in Box 2a of the Form 1099-C won't affect anything on your tax return.
June 4, 2019
4:06 PM
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
If a donated boat has no odometer how can I complete Form 1098C which requires and odometer reading?
Enter "999999" as the odometer mileage (or the reading on the Hobbs meter, if installed).
(A Hobbs meter records the number of hours the engines have operated).
Boats and airplanes don't have odometers, so your entry in Box 2a of the Form 1099-C won't affect anything on your tax return.
June 4, 2019
4:06 PM
Still have questions?
Make a post