Donny Posted March 14, 2008 Report Share Posted March 14, 2008 this is totally new to me so I need help please client exchanged truck for truck for buss use. I'm fairly sure I figured FMV of new truck, I'm confused what figures to use on line 15. also the depreciation from old truck and new truck are showing up on sec c , is this correct.(combination of both amounts Quote Link to comment Share on other sites More sharing options...
RitaB Posted March 15, 2008 Report Share Posted March 15, 2008 this is totally new to me so I need help please client exchanged truck for truck for buss use. I'm fairly sure I figured FMV of new truck, I'm confused what figures to use on line 15. also the depreciation from old truck and new truck are showing up on sec c , is this correct.(combination of both amounts Donny, if this was just truck traded for truck, there won't be anything on line 15 of Form 8824. And, yes, depreciation will show up for both vehicles on Sch C. Quote Link to comment Share on other sites More sharing options...
Donny Posted March 15, 2008 Author Report Share Posted March 15, 2008 Donny, if this was just truck traded for truck, there won't be anything on line 15 of Form 8824. And, yes, depreciation will show up for both vehicles on Sch C. thank you very much Quote Link to comment Share on other sites More sharing options...
RitaB Posted March 15, 2008 Report Share Posted March 15, 2008 thank you very much Hey, I'm just happy that I knew one! Quote Link to comment Share on other sites More sharing options...
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