Question

Business Expense - Vehicle expense

What does this mean:

Regarding a vehicle used for 100% business that was totaled:

"If you got the vehicle by trading in listed property that you used less than 100% of the time, enter in gain/loss".

There was no trade in at the time this vehicle that was originally purchased so does the section above apply.

The question is asking if you had a trade-in that was only partly used for business.

Since that does not apply, you can leave it blank or enter zero.

Here is some information you may find helpful: Business Use of Vehicles

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