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January 20, 2023
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Truck for Business - Sale Price and Vehicle Cost

  • January 20, 2023
  • 1 reply
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I lost truck in fire that was used for my landscape business. When filing, for sale price I put what insurance paid. Do I put what they paid us after they paid the loan off? Or do I put what they paid us plus what they paid to the loan?

 

Also for vehicle cost (what I paid for the truck) does this include taxes and everything? Like the total of the loan after all fees and stuff?

Best answer by Anonymous_

The total the insurance company paid for the vehicle (which would include a payoff since that was your obligation).

1 reply

Employee
January 20, 2023

The total the insurance company paid for the vehicle (which would include a payoff since that was your obligation).

Employee
January 20, 2023

The cost would be the full sales price plus tax and fees.

jordieeeeAuthor
January 20, 2023

Thank you for your help!!! Truly appreciate it!