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Business & farm
The sale amount would be 50% of the amount they gave you for the trade-in. You would just report 50% of the sales expenses, but the sales expenses would be any amount that was subtracted from the trade-in amount you negotiated.
Often, you wouldn't have any sales expenses. The cost of the new vehicle or financed amount would not be sales expenses though.
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‎February 24, 2020
12:17 PM