changing personal/business cars mid year

[Tamlyn74]

I was using a vehicle that I was still paying on for the majority of 2023 for personal and business use. In October I traded that in and got a different vehicle which was being used for personal and business usage. I am not sure how to file taxes and include getting rid of one car and using a different car

[KristinaK]

You will need to "dispose of" your first vehicle in the Asset section of TurboTax. The trade-in value will be your sale price. 

Then you enter the new vehicle as a new asset. 

[Tamlyn74]

I still owed a lot on it. They gave me $12,000 trade-in value towards the next one so it still left quite a bit added on to the new vehicle.