OOPS !
I had convinced my self that I did not need a Ram Cummins , so I went in to buy a Ram 2500 Hemi . I came out with a 2014 long bed ,crew cab , Cummins ,4x4 . This is my 5th Cummins over a twenty year ...
Forum Discussion
If you trade, you don't have a problem with taxes, other than the reduced cost of the newer vehicle. With the trade in of the old truck at $23,000, the new truck will only have a depreciable value of around $27,000. Now if you sell for cash, than the tax man will come up and grab you. If the truck had been depreciated to $-0-, then the $23,000 sale price would be treated as ordinary depreciation recapture income and might cause some tax bite.
