topic When selling a car used for work , does &quot;proceeds of distribution&quot; include the remaining vehicle loan or only the amount received from the sale after the loan is paid? in Investors and rental owners https://turbotax.community.intuit.ca/community/investments-rentals/discussion/when-selling-a-car-used-for-work-does-proceeds-of-distribution-include-the-remaining-vehicle-loan-or/01/936949#M5726 <P>When vehicle sold to car company, the company paid the existing loan and then returned the balance.&nbsp; I am unclear as to which is to be used for the CRA filing for "proceeds of distribution".<BR /></P> Thu, 31 Oct 2019 06:29:37 GMT elaine-mcarthur 2019-10-31T06:29:37Z When selling a car used for work , does "proceeds of distribution" include the remaining vehicle loan or only the amount received from the sale after the loan is paid? https://turbotax.community.intuit.ca/community/investments-rentals/discussion/when-selling-a-car-used-for-work-does-proceeds-of-distribution-include-the-remaining-vehicle-loan-or/01/936949#M5726 <P>When vehicle sold to car company, the company paid the existing loan and then returned the balance.&nbsp; I am unclear as to which is to be used for the CRA filing for "proceeds of distribution".<BR /></P> Thu, 31 Oct 2019 06:29:37 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/when-selling-a-car-used-for-work-does-proceeds-of-distribution-include-the-remaining-vehicle-loan-or/01/936949#M5726 elaine-mcarthur 2019-10-31T06:29:37Z Proceeds of disposition is the actual amount that was giv... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/proceeds-of-disposition-is-the-actual-amount-that-was-giv/01/936950#M5727 <P>Proceeds of disposition is the actual amount that was given for the vehicle regardless of how the money was applied - the bill of sale amount. In your case, it would be the amount to pay off the loan and the balance you received.</P> Thu, 31 Oct 2019 06:29:38 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/proceeds-of-disposition-is-the-actual-amount-that-was-giv/01/936950#M5727 TurboTaxJennifer 2019-10-31T06:29:38Z
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topic When selling a car used for work , does &quot;proceeds of distribution&quot; include the remaining vehicle loan or only the amount received from the sale after the loan is paid? in Investors and rental owners
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/when-selling-a-car-used-for-work-does-proceeds-of-distribution-include-the-remaining-vehicle-loan-or/01/936949#M5726
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<P>When vehicle sold to car company, the company paid the existing loan and then returned the balance.&nbsp; I am unclear as to which is to be used for the CRA filing for "proceeds of distribution".<BR /></P>
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<pubDate>Thu, 31 Oct 2019 06:29:37 GMT</pubDate>
<dc:creator>elaine-mcarthur</dc:creator>
<dc:date>2019-10-31T06:29:37Z</dc:date>
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When selling a car used for work , does "proceeds of distribution" include the remaining vehicle loan or only the amount received from the sale after the loan is paid?
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/when-selling-a-car-used-for-work-does-proceeds-of-distribution-include-the-remaining-vehicle-loan-or/01/936949#M5726
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<P>When vehicle sold to car company, the company paid the existing loan and then returned the balance.&nbsp; I am unclear as to which is to be used for the CRA filing for "proceeds of distribution".<BR /></P>
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<pubDate>Thu, 31 Oct 2019 06:29:37 GMT</pubDate>
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<dc:creator>elaine-mcarthur</dc:creator>
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Proceeds of disposition is the actual amount that was giv...
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/proceeds-of-disposition-is-the-actual-amount-that-was-giv/01/936950#M5727
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<P>Proceeds of disposition is the actual amount that was given for the vehicle regardless of how the money was applied - the bill of sale amount. In your case, it would be the amount to pay off the loan and the balance you received.</P>
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<pubDate>Thu, 31 Oct 2019 06:29:38 GMT</pubDate>
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/proceeds-of-disposition-is-the-actual-amount-that-was-giv/01/936950#M5727
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<dc:creator>TurboTaxJennifer</dc:creator>
<dc:date>2019-10-31T06:29:38Z</dc:date>
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