Truck for Business - Sale Price and Vehicle Cost

[jordieeee]

I lost truck in fire that was used for my landscape business. When filing, for sale price I put what insurance paid. Do I put what they paid us after they paid the loan off? Or do I put what they paid us plus what they paid to the loan?

Also for vehicle cost (what I paid for the truck) does this include taxes and everything? Like the total of the loan after all fees and stuff?

[Anonymous_ · Accepted solution]

The total the insurance company paid for the vehicle (which would include a payoff since that was your obligation).

[Anonymous_]

The cost would be the full sales price plus tax and fees.

[jordieeee]

Thank you for your help!!! Truly appreciate it!