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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