Posted 6/24/2022 16:30 (#9719435 - in reply to #9719411) Subject: RE: Reversing DEF delete
Jeffersonville, OH
MiradaAcres - 6/24/2022 17:10
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.
Guess I need to look, been out of sales too long apparently.
Reversing DEF delete
