Where would I report a Inncome Loss of Sale of a Vechkic;le
02366
2 Replies
DoninGA
Level 15
Apr 13, 2025 1:58:03 PM
If this was a personal vehicle, not used in a business, the loss on the sale is not reported on a tax return. Only if you had a gain on the sale would that need to be reported.
SharonD007
Expert Alumni
Apr 13, 2025 2:32:36 PM
You don't enter the loss from a personal vehicle sale on your tax return, you only report if you sold it as a gain.
Refer to the TurboTax Help article How do I edit the sale of a business property (Form 4797) for navigation instructions and select Sales of business or rental property that you haven't already reported to report your business vehicle sales.