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No, do not skip the like-kind exchange questions. The trading in of your car is a like-kind exchange. This will remove the old car, replace it with the new car and carry your basis and depreciation to the new car. Generally, any taxable gain is deferred from a like-kind exchange. Depreciation is included in the standard mileage rate. See the screenshot below.
If you did not do a like-kind exchange, you would have to tell the IRS that you are no longer using the old car for business. You would have to report the disposition to calculate and recognize a gain or loss on the old car.
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