Can I Use the Free Turbo Tax Version to Report Vehicle Recapture?

I had a business prior to 2019; it was closed for all of 2019. While the business was open, I had a personal vehicle that I used for business that I had taken a deduction on. I traded the vehicle in last year. Does the free version of TurboTax have a way for me to report the vehicle recapture?

406

Expert Alumni

Mar 2, 2020 10:32:32 AM

TurboTax Free is for very basic returns, so you would not be able to report the Sale of Business Property for your Business Vehicle.

See if you qualify for the Free File Program or you will need to upgrade your TurboTax.

Click this link for info on How to Delete a Business from Your Return.

Level 1

Mar 5, 2020 8:46:31 AM

Which edition do I need to use?

Expert Alumni

Mar 5, 2020 9:02:54 AM

No, you can not use TurboTax free to report vehicle recapture. You should use TurboTax Deluxe or higher.

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Can I Use the Free Turbo Tax Version to Report Vehicle Recapture?