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March 16, 2020
Question

I used a vehicle for work. This year, my car died, so I traded it. It was worth $4700, but owed $6300 on it. Would my sales price be zero?

  • March 16, 2020
  • 1 reply
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1 reply

March 16, 2020

Your 'sale price' is the value of the vehicle that the dealer gave you on the trade-in.  This is what you were actually given for the vehicle.

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