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acenikip
New Member

My car that I use daily & for business was totaled in an accident, then I brought a new car, whats the right way to put in data?

As I am trying to finish, turbotax keeps asking me did I trade in my car, the answer is no, but no other options are close to what I need. Please help
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Accepted Solutions
RyanH2
New Member

My car that I use daily & for business was totaled in an accident, then I brought a new car, whats the right way to put in data?

Try using the steps below to show that you stopped using your vehicle, but did not sell it.

Next, follow the steps below to let TurboTax know you did not sell your business vehicle:

1. Select "Business" at the top of the screen

2. Choose "Continue", then "I'll choose what I work on"

3. Select "Start" next to "Business Income and Expenses"

4. Select "Edit" next to your business name

5. Scroll down to Business Expenses

6. Now select "Update" next to "Business Vehicle Expense"

7. Select "Edit" next to your vehicle(Or select "Delete" to remove the vehicle completely)

8. When you arrive to the screen asking "Are You Still Using Your Vehicle for Business?", answer "No, I stopped using this vehicle for business."

9. Proceed to enter the date you stopped using the vehicle NOTE: You don't have to sell your vehicle to select this option. Notice it reads "sold, traded-in, gave away or stopped using"

10. Continue through the screens answering the questions and you should end up at a screen that reads "
Did You Trade-In Your Ford Escort for Another Vehicle?", answer "No"

11. Continue to leave the answers blank for any question regarding a sale or trade-in

12. Continue until finished

For more information on claiming your mileage visit this link: Business Use of Vehicles


View solution in original post

1 Reply
RyanH2
New Member

My car that I use daily & for business was totaled in an accident, then I brought a new car, whats the right way to put in data?

Try using the steps below to show that you stopped using your vehicle, but did not sell it.

Next, follow the steps below to let TurboTax know you did not sell your business vehicle:

1. Select "Business" at the top of the screen

2. Choose "Continue", then "I'll choose what I work on"

3. Select "Start" next to "Business Income and Expenses"

4. Select "Edit" next to your business name

5. Scroll down to Business Expenses

6. Now select "Update" next to "Business Vehicle Expense"

7. Select "Edit" next to your vehicle(Or select "Delete" to remove the vehicle completely)

8. When you arrive to the screen asking "Are You Still Using Your Vehicle for Business?", answer "No, I stopped using this vehicle for business."

9. Proceed to enter the date you stopped using the vehicle NOTE: You don't have to sell your vehicle to select this option. Notice it reads "sold, traded-in, gave away or stopped using"

10. Continue through the screens answering the questions and you should end up at a screen that reads "
Did You Trade-In Your Ford Escort for Another Vehicle?", answer "No"

11. Continue to leave the answers blank for any question regarding a sale or trade-in

12. Continue until finished

For more information on claiming your mileage visit this link: Business Use of Vehicles


View solution in original post

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