If I disposed of my car in 2018, what do I put in Basis for gain/loss and Basis for AMT gain/loss?
061301
6 Replies
BreaunnaL
Intuit Alumni
Jun 1, 2019 12:43:01 PM
When you say disposed, did you donate or sell?
oarias28
New Member
Jun 1, 2019 12:43:02 PM
Junked. Thank you.
BreaunnaL
Intuit Alumni
Jun 1, 2019 12:43:03 PM
is this related to a business or personal vehicle?
oarias28
New Member
Jun 1, 2019 12:43:04 PM
A vehicle used for personal and business
BreaunnaL
Intuit Alumni
Jun 1, 2019 12:43:06 PM
Please see the instructions below for disposing of your business asset:
Click Business on the Tax Timeline
Click "Start" (or revisit) next to Business Income and Expenses
Scroll down to the Business Assets section and click "Start" (or edit/revisit).
You should see your vehicle listed, and you will choose to Edit that vehicle.
Follow the prompts until you get to the Tell Us About This Asset entry. You'll see a box to check if you sold, retired, disposed of, converted to personal use.... this vehicle.
You will then enter the date you sold or retired it from use.
·Answer the remaining questions about the vehicle.
lindacomerford
New Member
Aug 31, 2019 3:34:17 PM
Traded in a 2014 car used 75% for business purposes. We never depreciated the 2014 car. We just used the standard deduction.