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In TurboTax Business, how do I enter that a vehicle used for business was sold during the year. I don't see where to enter it so it comes out on the report as an "S" (sold)
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A business-owned vehicle is in the Assets category and the sale of the asset should be entered there.
In TurboTax Business you can enter the sale of the vehicle by following these steps:
- Within your return under the Federal Taxes tab and Income scroll down to Dispose of Business Property and click Start
- Continue and click Select for the vehicle you sold on the list of assets shown
- Proceed through the interview to report the sale
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