You'll need to sign in or create an account to connect with an expert.
The program is trying to split up the price of the new vehicle and the selling (trade-in) price of the old.
Yes, the basis is the total purchase price of the new vehicle, regardless of the trade-in.
The loss or gain on the older vehicle will also need to be computed, and that is based on the cost, depreciation taken and trade-in value given.
The program is trying to split up the price of the new vehicle and the selling (trade-in) price of the old.
Yes, the basis is the total purchase price of the new vehicle, regardless of the trade-in.
The loss or gain on the older vehicle will also need to be computed, and that is based on the cost, depreciation taken and trade-in value given.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
48908d580c30
New Member
ruppll
New Member
fucndfsdsfddfdf
Returning Member
margie-e-rice-gm
New Member
sharpecookie
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.