|
Ne Iowa | My accountant explained this to me but it has been a while so I may not be completely accurate. It used to be you could trade machines and enter the amount you paid in boot on your taxes and everyone went on their merry way. Now irs wants to know the purchase price of the machine and how much you were allowed for the trade. Both of those values are likely inflated just because that is how it works at the dealer. I have no idea how or if any of this will affect your taxes. | |
|
Is it better to trade in or buy outright and sell your old one?
