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kurosua
New Member

If I sold a car this year, and the price was more than I paid, where do I report that income on the turbotax website?

 
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1 Reply
Vanessa A
Expert Alumni

If I sold a car this year, and the price was more than I paid, where do I report that income on the turbotax website?

You would report that as a sale of investment.

 

To enter your sale of your vehicle, you will take the following steps:

 

  1. Federal
  2. Income
  3. Show More next to Investment Income
  4. Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) 
  5. Select Other
  6. Continue through and select Other again for the type of investment
  7. Answer how you obtained your policy 
  8. You will need to enter the selling price, dates and the cost basis of the items
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