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March 21, 2024
Question

Should I have to declare financed car?

  • March 21, 2024
  • 1 reply
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    1 reply

    TurboTaxSusan
    March 21, 2024

    No. If you just bought a car for personal use, then you don't need to put it on your tax return. 

     

    When you sell it, you'll need to put the sale on your tax return, but most times it will result in a loss instead of a taxable gain.