How does trading in a personal use truck effect the section 179 deduction for new business truck? New truck $40k, tradein $15k. Is the Section 179 basis $40k or $25k?

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If the old truck was always 100% personal with no business use, then Basis for the new truck is $40,000.

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If the old truck was always 100% personal with no business use, then Basis for the new truck is $40,000.

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