Where do I report income from selling a car?

[drsieling]

I was trying to put income from a personal sale of a car and above it said select personal but there is no option to select personal.

[BillM223]

Do you actually have a gain from the sale of a personal car? Most people don't.

This is because their "basis" (what they put into the car in the first place) is almost always more than what they sold it for, so no gain. I.e., sale price less purchase price is less than zero. It does not matter what your car loan value was.

If you did not have a gain from the sale, then do not report the sale on your tax return.

Does this cover your situation?

[Edited 1/11/2023 | 4:01 PM}

@drsieling 

[drsieling]

Yes, thank you.