Business Use Auto Trade-in

[HJSTAXSTOP]

In using the trade-in worksheet in TTB , page 10-2 to determine the basis of new truck, and the depriciation in line 2 is greater than line 6, then line 7 is a negative. So, the basis in line 5 and line 8 are the same. Right? And also, must a form 8824 be filed on vehicle trade-ins? Thanks, HJ

[HJSTAXSTOP]

My Bad

Just read Bees Knees reply from a month ago as to the calculations of the worksheet. This time of year I can't see the forest for the trees and it's springtime here in Tennnesse, so I need to get my garden out. But to the form 8824, does it need to be filed for auto trade-ins. Thanks, HJ

[Chief]

Springtime in Tennessee

HJ:
I remember spring in Tennessee both East and West. Beautiful time of the year. We have lived both in Knoxville and Jackson. Just wondering where in Tennessee you are located.

[Gretel]

Yes, Tennessee is beautiful. If I ever get back there I will visit Ron.

Yes, unfortunately form 8824 must be file for auto-trade ins. I don't like it, it's a big pain in the butt.

[HJSTAXSTOP]

Form 8824

Thanks guys, It's East Tennesse, Maryville, just south of Knoville. I think west Tennessee is in Mississippi or Arkansas, is it not? Just kidding Chief. HJ

[Chief]

Hj

Really HJ you are in the Knoxville Metro area. Do you still hear those passenger jets coming and going. Yeh, West Tennessee is a ways off from you. I remember leaving Knoxville and driving west for eight hours before crossing the River into Arkansas. It's time for the annual Dogwood Festiveal in your neck of the woods. Bet they are beautiful this time as always. About 2 weeks left for those proscastinators (sp).