Business vehicle trade in with a loan on it

[ruckus612]

I have a LLC -I traded in my business vehicle to purchase another. The old vehicle still had a loan on it. What do I use for the sales amount

[Anonymous_ · Accepted solution]

---

@ruckus612 wrote:

What do I use for the sales amount

---

You use whatever value you received for your vehicle.

[ro45]

I traded in one vehicle that I used for business for a new vehicle that I began using for business immediately.

What is the purchase?  The sticker price or the price after the trade in amount less the loan payoff. 

[AmeliesUncle]

---

@ro45 wrote:

I traded in one vehicle that I used for business for a new vehicle that I began using for business immediately.

What is the purchase?  The sticker price or the price after the trade in amount less the loan payoff. 

---

The sticker price (plus any applicable purchase expenses, such as sales tax).  Loans and trade-ins do not affect the cost of the vehicle.