Posted 6/24/2022 16:10 (#9719411 - in reply to #9719394) Subject: RE: Reversing DEF delete
scmn
And then pay capital gains...There are lots of reasons people trade at dealerships rather than sell outright. Capital gains is no longer in play, you now have to claim sold/traded asset value as income and place full value as basis on new asset. There is sales and use tax savings from trade, but no capital gains tax savings.