I traded my Toyota Camry in on a Dodge Ram...How do I figure "adjusted basis" on form 8824?

[gant9315]

The vehicle trade-in was a like-kind exchange.

[JohnW15 · Accepted solution]

Basically, your adjusted basis is what you paid for the vehicle, minus any depreciation you claimed on it, plus any improvements you made to it that you haven't written write off, such as a new engine.

For more extensive information, though, please see the line 18 instructions in the IRS' Instructions for Form 8824.