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re: How do the taxes work when trading in a car?
Posted on 2/17/14 at 4:35 pm to Tiger Vision
Posted on 2/17/14 at 4:35 pm to Tiger Vision
The trade-in value is subtracted from the sale price before sales taxes are computed on the final amount.
This post was edited on 2/17/14 at 4:36 pm
Posted on 2/17/14 at 9:01 pm to LSURussian
So you just pay taxes on the difference of the new car sale price and trade in price of the old car. Thanks.
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