ILLMAS Posted April 12, 2010 Report Share Posted April 12, 2010 TP returned business car due to bankruptcy, how should I dispose of the car, as zero for the amount of sales price? If I do that she has a loss on the disposition, which I don't know if she is entitled to since she still owed for the car. Any advice? Quote Link to comment Share on other sites More sharing options...
Kea Posted April 12, 2010 Report Share Posted April 12, 2010 Perhaps the loan balance for the sales price? Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted April 12, 2010 Author Report Share Posted April 12, 2010 Perhaps the loan balance for the sales price? Yes, I was thinking that or also the balance of the depreciation as the sales price? Anyone? Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted April 12, 2010 Report Share Posted April 12, 2010 wait for the 1099 to come in. Ask the lender for one. They should provide it. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.