You would report that as a sale of investment.
To enter your sale of your vehicle, you will take the following steps:
- Federal
- Income
- Show More next to Investment Income
- Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
- Select Other
- Continue through and select Other again for the type of investment
- Answer how you obtained your policy
- You will need to enter the selling price, dates and the cost basis of the items
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