uriel316
New Member

When entering Fair Market Value for my new car, do I put what I paid or what the sticker price is?

At the time of purchase, there were really good rebates on the car.  So would the amount that anyone else would be willing to pay for the exact same vehicle be the sticker price?  Also, can I claim losses on my trade-in on my taxes in the form of negative equity?  It was a car that I partially used for business which was replaced by a new car being used in the same capacity.  If so, where would I enter that?