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Article Date:
July 2011

Word Count:



New: Big Bonus Depreciation Break Applies to Trade-Ins

By law, your trade-in of a business vehicle or airplane on a like-kind business vehicle or airplane is a Section 1031 exchange.


That’s generally good.


You don’t pay taxes on the 1031 exchange unless you receive cash or a reduction in debt.


Make It Better


When you complete the trade-in or other type of 1031 exchange, you have a



carryover basis from the asset you traded in, and


an additional basis for the boot you paid in cash or financed to acquire the replacement asset.


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