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H
hoch-horticulture
February 24, 2025
Question

I salvaged a personal vehicle used for business. Do I report this as a "sale"?

  • February 24, 2025
  • 1 reply
  • 0 views
About 40% of the vehicle use was for business (I have always taken the standard mileage deduction, so I'm not sure why TT is calculating a loss on this for the business, since it was a personal vehicle.

    1 reply

    R
    RobertB4444
    February 24, 2025

    Yes.  Report it as a sale for zero dollars (or whatever the salvage company gave you for it).

     

    @hoch-horticulture 

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