Sale of Car

From: "Peter & Karen Diamond" <diamond@vsi.net>
Subject: Sale of Car
Date: Tue, 1 Feb 2000 21:22:35 -0500

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Hello everyone,
I use my personal car for my business.  I have been using the standard
mileage rate for depreciation, and it has never been above 50% business use.
I traded in the car last year when I bought a new one.  I can't find any
specific information about how I treat this for tax purposes.
Will I have to report this is a depreciation recapture?   Is it a capital
gain/loss? Could there be a loss from this if the sale price of the car is
less that the accumulated depreciation?  Does anyone know which IRS
forms/pubs have more information about this?
Thanks for any information.

 Peter Diamond



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