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FAIR market value for vehicle.

I purchased a vehicle back in 2013. This vehicle was put into use with my business in 2015. In 2024, i traded this vehicle in for another vehicle. How do i find the fair market value for back in 2015 when it was put into use???

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1 Reply
KrisD15
Employee Tax Expert

FAIR market value for vehicle.

Use the basis that you reported when you put it into service in 2015. 

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