Want to make sure I am entering my trade in correctly. I bought my old car in Aug of 2019 and traded it in Aug 2022. The business use of my vehicle varied over the years but for 2022 was used 26.23%. Original purchase price of old car was $9,000, trade in was $3,000 ($787 if calculating business portion) and had a $4,271 depreciation from standard mileage deduction over last years. My new vehicle was purchased for $18,000 before my trade in. For vehicle sales price do I enter $787? What do I put as vehicle cost? Do I multiple the 9000 sale price times my business use for that? Where do I take my new cars value into consideration?
