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jsmithgcm
New Member

I traded in a business vehicle for a personal car as I am now just an employee. The business vehicle used for trade-in was fully depreciated. What is the tax treatment?

 
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I traded in a business vehicle for a personal car as I am now just an employee. The business vehicle used for trade-in was fully depreciated. What is the tax treatment?

This would be treated as the sale of an asset.  The trade-in value is your sales price and the basis was zero.

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