Sale of business property

[Robert072]

I have not sold any business property and yet there is an amount showing income from the sale of business property.  How can I determine what form is generating this information?

I have looked at all the forms and cannot find any form(s) with information matching the amount.

I did loose a car in a fire so I showed ending use for business on the date of the fire and a sale price of $0.

[VictoriaD75]

The disposal of the vehicle asset is likely where the dollar amount is reporting. It is really a sale or disposal of business property. Under Income & Expenses, expand the menu for Other Business Situations. Click Start/Revisit next to Sale of Business Property. You should be able to review entries on the screens that follow.

[Robert072]

It is actually listed under Less Common Business Situations.  Clicking on the amount brought up a dialogue box that said the amount arose from entries on other forms but did not identify the forms.  Clicking on 'Update' brought up a question box without a relevant response - so really of no use.

I decided that it was not worth the hassle to claim the small deduction for business use of the car so I deleted the car from the vehicle expenses.  Sale amount went away.  Not really what I wanted to understand but I'm going with it so that an erroneous gain is not shown.

[VictoriaD75]

If you deducted business expenses related to the vehicle in any prior tax year, you should still report the disposal of the vehicle on your taxes.