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March 3, 2023
Question

Personal Use of a Company Vehicle

  • March 3, 2023
  • 1 reply
  • 8 views

We filed w-2's already, and now realize we need to report personal use of a company vehicle for the owner of the business. How would I do this? File an amended w2, or some other way?

1 reply

Level 5
March 3, 2023

I'd check with your CPA/Tax Accountant before you refile anything.

 

You are correct it should be reported in most cases.  But you need to evaluate how much it was used and what the value was.  It may or may not be necessary to refile.  (But I'm not a CPA...)