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Level 3
posted Mar 1, 2025 8:56:42 AM

Business Vehicle Trade-In

I traded in a tractor-trailer that was purchased in 2018 for another tractor-trailer that was purchased in 2024.  The tractor-trailer was used 100% for business and is fully depreciated.  Do I report the trade in amount received as a sale in TurboTax?

0 2 645
2 Replies
Expert Alumni
Mar 5, 2025 6:55:12 AM

Yes.  You will report the trade in of the tractor trailer as a sale of the vehicle in TurboTax. Since it was fully depreciated it will have $0 basis. 

Level 3
Mar 5, 2025 1:18:17 PM

Thanks!