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Retirement tax questions
Yes, it is a foggy subject. From what you posted you paid 38K for the vehicle and received 65K as a settlement part of which paid off your loan. Presuming your loan payoff was 38K you would have 27K remaining. You actually do not have a loss the settlement paid off your loan and you still had leftover cash from the settlement.
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March 29, 2022
7:10 AM