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November 3, 2025
Question

Entering the Check I received for the sale of a Personal car

  • November 3, 2025
  • 0 replies
  • 1 view

Hi,

I just sold a car. This was a cash transaction as the car had no liens, loans, etc. Title was clear.

 

How would I enter the check? I'm assuming the Payee would be "deposit" but I don't know what to put in the account field in case I have to pay tax or fees on the amount. I did not make a profit as the car was almost 5 years old and I sold it for less than I bought it.

 

Thx.