there are no more like kind exchnages for other than real estate. when you trade in a vehicle it is treated as a sale.
first the cost of your vehicle has to be split between business and personal use based on business miles to total miles the trade in value which is the sales price is split the same way.
reduce the businss portion of the vehicle by the depreciation.
business proceeds less business basis = business gain or loss. any loss on personal portion is not deductible.
loan amount does not enter into the computation.
