How do I dispose of personal vehicle used for work purposes when I did not sell it?

joewhite02 · ‎October 30, 2019

I have a personal vehicle I am using for work purposes. In June of last year I purchased a new vehicle but did not sell the old one, I kept it for my spouse to use instead.

I need to add the new vehicle for CCA purposes? How do I remove the old vehicle (it is still showing as carried over from last year, at what value) and then add the new one?

TurboTaxTatsiana1 · ‎October 30, 2019

When you stop using vehicle for business but still keep it for personal use it is a deemed disposition . The old vehicle should be disposed at UCC at the start of the year. And you should create a second vehicle form for the new car you have purchased.

How do I dispose of personal vehicle used for work purposes when I did not sell it?

Investors and rental owners