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Auto trade in TBB 10-8 Method 1

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    #1

    Auto trade in TBB 10-8 Method 1

    Cash given after trade-in $20,000
    Remaining basis of truck given up $2,000
    Basis of new truck $22,000

    This is a new heavy truck not subject to depreciation limitation. It appears by default 100% of basis of new truck is used for Special Depr. and not just $20,000. Is that right?
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    #2
    Just trying to get someone's opinion.

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      #3
      yes I had the same situation basis plus cash

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