Hello I am a small business owner and I recently traded in a vehicle that I used 100% for business for a newer one. I understand a new law came in that requires me to file this as a sale and then enter a new asset. My question is, how do I go about doing this the vehicle I traded in was still being depreciated and I got a little equity on it when I traded it in wish I applied towards the newer vehicle. Thanks for any help.
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