Solved: Sold auto for less then market value

Sold auto for less then market value

Yes sold my car for 3500. FMV was 5400. Would i get a bigger refund to declare it?

posted

If this was a personal (not a business) vehicle, there's nothing to declare. A loss on the sale of a personal vehicle is NOT deductible.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

If this was a personal (not a business) vehicle, there's nothing to declare. A loss on the sale of a personal vehicle is NOT deductible.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

Sold auto for less then market value