topic When buying new biz van with a trade in, TT asks for Total Cash/Loan Amt plus Paid Amt. Was told that new deprec basis is Paid Amt (inc trade) Why does TT ask for both? in Get your taxes done using TurboTax https://ttlc.intuit.com/community/taxes/discussion/when-buying-new-biz-van-with-a-trade-in-tt-asks-for-total-cash-loan-amt-plus-paid-amt-was-told-that/01/206637#M84505 Sat, 01 Jun 2019 17:58:24 GMT carpenterjb 2019-06-01T17:58:24Z When buying new biz van with a trade in, TT asks for Total Cash/Loan Amt plus Paid Amt. Was told that new deprec basis is Paid Amt (inc trade) Why does TT ask for both? https://ttlc.intuit.com/community/taxes/discussion/when-buying-new-biz-van-with-a-trade-in-tt-asks-for-total-cash-loan-amt-plus-paid-amt-was-told-that/01/206637#M84505 Sat, 01 Jun 2019 17:58:24 GMT https://ttlc.intuit.com/community/taxes/discussion/when-buying-new-biz-van-with-a-trade-in-tt-asks-for-total-cash-loan-amt-plus-paid-amt-was-told-that/01/206637#M84505 carpenterjb 2019-06-01T17:58:24Z The program is trying to split up the price of the new ve... https://ttlc.intuit.com/community/taxes/discussion/the-program-is-trying-to-split-up-the-price-of-the-new-ve/01/206648#M84514 <P>The program is trying to split up the price of the new vehicle and the selling (trade-in) price of the old.&nbsp;</P><P>Yes, the basis is the total purchase price of the new vehicle, regardless of the trade-in.&nbsp;</P><P>The loss or gain on the older vehicle will also need to be computed, and that is based on the cost, depreciation taken and trade-in value given.&nbsp;</P> Sat, 01 Jun 2019 17:58:25 GMT https://ttlc.intuit.com/community/taxes/discussion/the-program-is-trying-to-split-up-the-price-of-the-new-ve/01/206648#M84514 KrisD 2019-06-01T17:58:25Z