topic When figuring the value of vehicle added for farm business do I deduct the trade-in amount of truck taken out of service? in Deductions & credits https://ttlc.intuit.com/community/tax-credits-deductions/discussion/when-figuring-the-value-of-vehicle-added-for-farm-business-do-i-deduct-the-trade-in-amount-of-truck/01/396634#M50102 Tue, 04 Jun 2019 19:43:55 GMT rdskelton 2019-06-04T19:43:55Z When figuring the value of vehicle added for farm business do I deduct the trade-in amount of truck taken out of service? https://ttlc.intuit.com/community/tax-credits-deductions/discussion/when-figuring-the-value-of-vehicle-added-for-farm-business-do-i-deduct-the-trade-in-amount-of-truck/01/396634#M50102 Tue, 04 Jun 2019 19:43:55 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/when-figuring-the-value-of-vehicle-added-for-farm-business-do-i-deduct-the-trade-in-amount-of-truck/01/396634#M50102 rdskelton 2019-06-04T19:43:55Z No.  You add the trade in amount, (Boot/Cash), to the bas... https://ttlc.intuit.com/community/tax-credits-deductions/discussion/no-you-add-the-trade-in-amount-boot-cash-to-the-bas/01/396639#M50104 No.  You add the trade in amount, (Boot/Cash), to the basis or cost of new vehicle.  Amount paid for new vehicle is cost plus Boot paid. This is the Basis or cost of new vehicle.  This is assuming vehicle is used 100% for Business. Tue, 04 Jun 2019 19:43:57 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/no-you-add-the-trade-in-amount-boot-cash-to-the-bas/01/396639#M50104 cdmalt 2019-06-04T19:43:57Z