Question

We started a small delivery business and have had the unfortunate luck of getting into multiple accidents

Forum|Forum|2 years ago
August 3, 2023
2 replies
0 views

We keep hitting deer, 4 times now in 24 months, 3 times in 2022.

The issue I am having is 2 of the vehicles were total losses in under 3 months split between the 2 cars.

And I am having a time trying to figure out their value, or the recapture value. I need to be able to report they were wrecked.

TurboTax Self Employed Online

M

Mike9241

do you have insurance?

Carl11_2

Employee

You may also want to let it be known what type of business. According to what's on the screen, you're using Turbotax Self-Employed which includes SCH C for a single owner business. Yet you say "we" have a small business, indicating more than one owner. So let it be known if you have a single member LLC, MultiMember LLC, S-Corp, or something else. It could matter for the proper guidance on entering the data on your tax return.