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I don't understand how to calculate gain/loss on a vehicle traded in used part-time for business. Does purchase price include the trade-in allowance?
			
				
					
					
						Total purchase price of car traded in $16733.  I paid $12733 with my trade-in.  Depreciation of $4978.  The dealer gave me a $10,000 trade-in allowance for it.
					
				
			
			
				
			
			
			
			
			
			
			
		
		
		
	
	
	
		
			
				
						
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		‎January 15, 2022
	
		
		12:14 PM