Need some help. Losing Trade-in Tax Break

[Johnathansmith]

Need some help. Losing Trade-in Tax Break

I need some help I got a Tesla Model 3 a few weeks ago. At that time i had a trade-in so I only pay tax on the amount of the car without the trade-in amount. Long story’s tesla is taking back my car and giving me a full refund but i am buying a new one but now that I don’t have the trade-in I am losing the tax break and have to pay $3000 more for the same car. Does anyone know a way around this!!!

 

[OCR1]

If they were willing to do an even trade without issuing a refund and generating a new purchase agreement there would be no taxes due. But aside from Tesla agreeing to do that you are probably stuck. Your trade in value must have been quite high to have saved you $3,000 in sales tax.

 

[Johnathansmith]

yea it was... this sucks