Announcement

Collapse
No announcement yet.

2008 pickup set up as listed property in 2010

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    2008 pickup set up as listed property in 2010

    S Corp traded pick up in for new in 2013. Can I do a like kind exchange?
    Tags: None
    #2
    You not only can, you must.
    Roland Slugg
    "I do what I can."

    Comment

      #3
      Sorry, wasn't clear

      The new pick up is not listed property.

      Comment

        #4
        Doesn't Change Anything

        Whether it is "listed property" or not, for purposes of calculating cost on a trade-in MUST be reported as
        unexpired cost of the old truck plus boot (cash) given. The rules for a Like-Kind-Exchange are identical to this...

        Comment

        Previous template Next

        Disclaimer

        Collapse

        This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

        Working...
        X