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Southeast Alabama | When Selling a tractor depreciated out the income is treated as ordinary income just like selling a commodity. As long as you have something to off set the income you should be fine such as a chemical bill or buying another tractor in the same tax year. The difference is sales tax on the equipment purchase, when you trade you only owe sales tax on the difference, when selling out right then buying you pay sales tax on whole amount, but my experience is you get enough money to sale outright over trading to cover the difference in sales tax. | |
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trading tractor-salesman wont look?at my tractor?
