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SportTrac Discussion
General Sport Trac Discussion
Trade-in vs sell
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<blockquote data-quote="Richard L" data-source="post: 934914" data-attributes="member: 52972"><p>In Texas we can reduce the taxable amount of the new or used vehicle being purchased by the amount we received for the trade-in. This does not apply to private sales and it cannot be done as separate transactions. The vehicle being sold must appear as a trade-in on the sales documents for the vehicle being purchased.</p><p></p><p></p><p></p><p>Dave I find it hard to believe that any state would allow you to sell a car privately in a separate transaction and then let you apply to have your taxes reduced on your newly purchased vehicle? That system is just wide open to fraud and battles about the true selling price of vehicles between buyers and sellers.</p><p></p><p></p><p></p><p>...Rich</p></blockquote><p></p>
[QUOTE="Richard L, post: 934914, member: 52972"] In Texas we can reduce the taxable amount of the new or used vehicle being purchased by the amount we received for the trade-in. This does not apply to private sales and it cannot be done as separate transactions. The vehicle being sold must appear as a trade-in on the sales documents for the vehicle being purchased. Dave I find it hard to believe that any state would allow you to sell a car privately in a separate transaction and then let you apply to have your taxes reduced on your newly purchased vehicle? That system is just wide open to fraud and battles about the true selling price of vehicles between buyers and sellers. ...Rich [/QUOTE]
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SportTrac Discussion
General Sport Trac Discussion
Trade-in vs sell
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