I am selling an automobile, at a loss - the asset was recorded on form 4562. Do I record the disposition through Form 4562? (Forms are showing a Sec 1231 Gain)

[glennreedcfo]

Thanks for help from the Community.

[George4Tacks]

I assume it is in the depreciation input. https://proconnect.intuit.com/community/form-8949/help/entering-a-sale-or-disposition-of-assets/00/5... should get you there

[glennreedcfo]

Thank you - will take a look at the link. Much appreciated!

[qbteachmt]

Is this from your client's business or their personal vehicle? Is that a specialty vehicle? What makes it "a loss?" What about previous depreciation?

[glennreedcfo]

Thanks - good questions.  Clients business use vehicle.  Sold at a loss. (Cash Received less than depreciated book value)