I traded in a vehicle in 2024. Upon entering the info, TurboTax is asking for the total cost of the vehicle I traded, not the new. Help!

[kenifer]

I stated that I stopped using the vehicle in 2024 as that is what I did once I traded it. Why is TT asking me about the cost of this vehicle and not the new one?

[ThomasM125]

You can't apply the value of a trade-in to the cost of a new vehicle under the new tax rules. You simply report the trade in of the old vehicle as a sale and then add the new vehicle as though there was not a trade-in involved.