Search Help


Enter one of more keywords to search. Use quotes for “exact phrase.” Note that '*' and '?' wildcards are supported.

When your search results appear, you can refine your search further: Sort for only results in which all search terms appear AND/OR sort by chronological order.

Article Date:
September 2006


Word Count:
265

 

 

Upside Down Trade of SUV


In 2003, I bought a $35,330 Chevy Tahoe and expensed $33,564, my 95% business use percentage. I was upside down on the Tahoe this past month when I traded it for a new Tahoe. The dealer gave me a trade-in allowance of $10,500 and paid off my $21,700 remaining loan balance. The cost of the new Tahoe was $41,900. What is my basis in the new Tahoe after this trade? (F.M., Mt. Pleasant, SC)

 

A new trade-in ... Log in to view full article.

Log in to view full article
Already a subscriber?
 
Email Address

 
Password

Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
 
with a money-back guarantee



 

SS