I had a vehicle with a 60 month loan with 0% interest. I sold the vehicle in September 2021 and had to make a final payment to pay off the loan. How do I submit this?
03567
3 Replies
TurboTaxBrenda1
Moderator
Jun 8, 2022 9:13:50 AM
Can you please clarify if you owned a business and used your vehicle for it and had reported your vehicle in previous years under CCA?
Thank you for choosing TurboTax.
rzwaag
New Member
Jun 13, 2022 11:01:04 AM
Good morning,
I do not own or run a business but receive a monthly car allowance from my employer and use my personal vehicle for business use (and is insured for this purpose).
Yes, this vehicle has been previously reported under CCA.
Roeland.
TurboTaxBrenda1
Moderator
Jul 26, 2022 2:47:07 PM
If it is just that your loan for your vehicle was paid off there is no where to report this.