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posted Jun 7, 2019 3:32:14 PM

Since like-kind exchanges are limited to real property beginning in 2018 how do you report the disposition of a vehicle that was traded in on a new vehicle?

Both vehicles are only partially used for business.

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1 Replies
Not applicable
Jun 7, 2019 3:32:16 PM

you're supposed to use FMV as sales price,  however in practice most use the trade in value given on the invoice for the replacement vehicle.