Those numbers are totally made up. Try these ones of what I'd imagine
you'd get trading in a $100 car like my '87 740 Turbo for a new Huyndai
Accent:
So let's do the final tally here:
You traded in a car worth: $100
You got a discount of: $4500
Which is exactly what the program was supposed to do ---
On Wed, Nov 11, 2009 at 6:24 PM, Mitch Haley m...@voyager.net wrote:
so everybody participating in CFC lost except the carmakers and the
dealers (assuming the dealers didn't botch their CFC applications).
Mitch.
--
OK Don
Well on the question of taxability, the real answer, as usual, appears to be
maybe.
http://www.factcheck.org/2009/09/clunkers-credits-taxable/
Not federally taxable, but apparently it may be at the state/local level.
You also might not have gotten the usual offset on sales taxes that a
My take on this is that if you get more for a trade in than your basis, you've
got a capital gain. If you paid more for your trade in than you got for it,
you've got a nondeductible loss.
Unfortunately, it seemed like the manufacturer rebates went down by about $3000
on most cars when the
i think this is an important announcement about cash for clunkers
i'm not affiliated with cash for clunkers, btw
On Tue, Nov 10, 2009 at 9:30 PM, LarryT l02tur...@comcast.net wrote:
Thought ya'll might enjoy this --
The Plan, The Scam, The Man, Don't ya just love it when a plan comes
No, I did not enjoy reading this garbage. Why? Because it is not true.
There is NO Federal Income Tax due.
Bandwidth is heavy these days, please check the facts.
On Tue, Nov 10, 2009 at 6:30 PM, LarryT l02tur...@comcast.net wrote:
Thought ya'll might enjoy this --
The Plan, The Scam, The Man,
