trading vehicle previously used std mileage

[schirallicpa]

Trading vehicles. Old vehicle had standard mileage. Do I go back and figure what depreciation shoulda woulda coulda been to figure basis of new vehicle. Or just go with the invoice.

Yes- similar assets. Nothing fancy here.

Brains are a little mushy lately.

Thanks for the help.

[jainen]

>>go back and figure what depreciation shoulda woulda coulda been<<

The depreciation component of standard mileage allowance is 19 cents for 2007, 17 cents for 05/06, and 16 cents for 03/04.

[schirallicpa]

Hey you're AWESOME!