Does a like-kind exchange require the trade in and the original car to be both used for 100% business or is a mix of personal and business use okay?

The car is owned.

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1 Best answer

New Member

Jun 4, 2019 1:01:46 PM

To qualify for a like-kind exchange, it must be used exclusively for business. Unfortunately, personal use of items does not qualify.

New Member

Jun 4, 2019 1:01:46 PM

To qualify for a like-kind exchange, it must be used exclusively for business. Unfortunately, personal use of items does not qualify.