johnhancock33
Returning Member

Deductions & credits

Bought car in 2018 for 20577.  Traded it 1/2022 for  truck.  Loan balance on the trade in was around 14000.  Dealer gave me 16000, 2 grand above what I owed.  Then financed new truck purchase.  Looks like I have to use the 16000 as sales price?  Was hoping could just use the net of 2k.  Thanks very much for response, appreciate it.