{
  "id": "v20-us-trade-in-credit",
  "version": "20.16.0",
  "name": "Vehicle Trade-In Tax Credit Worksheet — United States",
  "shortName": "Vehicle Trade-In Tax Credit",
  "description": "Keep the dealer trade allowance used in a confirmed tax rule separate from the equity remaining after the old vehicle loan is repaid. USD planning view; stated limitations apply.",
  "category": "Vehicles & Travel",
  "categorySlug": "vehicles-travel",
  "keywords": [
    "trade-in-credit",
    "us",
    "vehicle-energy",
    "consumer-finance",
    "vehicle-rating"
  ],
  "status": "live",
  "workStatus": "pending",
  "reviewStatus": "pending",
  "migrationStatus": "new",
  "engine": "native",
  "creator": null,
  "reviewer": null,
  "quality": {
    "availability": "live",
    "technicalReviewRecord": "/reviews/v20-us-trade-in-credit.json",
    "qualifiedReview": "pending",
    "qualifiedReviewer": null,
    "qualifiedReviewDate": null,
    "formulaVersion": "20.16.0",
    "referenceCoverage": "references-listed",
    "releaseTestScope": "Catalog and regression checks are not a professional formula audit; consult release evidence.",
    "historicalMetadataDate": "",
    "historicalMetadataNotice": "The imported date is not evidence of a completed human review."
  },
  "notice": "Illustrative defaults are not local quotes or verified legal rules. Dated reference components and user-entered assumptions are explicitly distinguished. Professional review is pending.",
  "urls": {
    "page": "/us/trade-in-credit/",
    "definition": "/us/trade-in-credit/definition.json",
    "schema": "/us/trade-in-credit/schema.json",
    "llms": "/us/trade-in-credit/llms.txt",
    "legacyDefinition": "/us/trade-in-credit/definition.json"
  },
  "queryExample": "https://askcalculators.com/us/trade-in-credit/?purchasePrice=35000&tradeAllowance=12000&oldLoanBalance=7000&salesTaxRate=6.25&creditPermitted=0&confirmedCreditCap=0",
  "queryParameters": {
    "purchasePrice": {
      "label": "Taxable purchase price before trade allowance",
      "type": "money",
      "required": true,
      "default": 35000
    },
    "tradeAllowance": {
      "label": "Dealer trade-in allowance, not equity",
      "type": "money",
      "required": true,
      "default": 12000
    },
    "oldLoanBalance": {
      "label": "Loan balance to repay on traded vehicle",
      "type": "money",
      "required": true,
      "default": 7000
    },
    "salesTaxRate": {
      "label": "Confirmed applicable purchase tax rate",
      "type": "percent",
      "required": true,
      "default": 6.25
    },
    "creditPermitted": {
      "label": "Verified local rules permit this trade-in allowance to reduce this tax base",
      "type": "checkbox",
      "required": false,
      "default": false
    },
    "confirmedCreditCap": {
      "label": "Confirmed maximum allowance eligible for tax-base credit",
      "type": "money",
      "required": true,
      "default": 0
    }
  },
  "inputs": [
    {
      "id": "purchasePrice",
      "label": "Taxable purchase price before trade allowance",
      "type": "money",
      "defaultValue": 35000,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "USD",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "tradeAllowance",
      "label": "Dealer trade-in allowance, not equity",
      "type": "money",
      "defaultValue": 12000,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "USD",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "oldLoanBalance",
      "label": "Loan balance to repay on traded vehicle",
      "type": "money",
      "defaultValue": 7000,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "USD",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "salesTaxRate",
      "label": "Confirmed applicable purchase tax rate",
      "type": "percent",
      "defaultValue": 6.25,
      "required": true,
      "min": 0,
      "max": 50,
      "step": 0.1,
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "creditPermitted",
      "label": "Verified local rules permit this trade-in allowance to reduce this tax base",
      "type": "checkbox",
      "defaultValue": false
    },
    {
      "id": "confirmedCreditCap",
      "label": "Confirmed maximum allowance eligible for tax-base credit",
      "type": "money",
      "defaultValue": 0,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "USD",
      "help": "Illustrative starting value; replace with your own evidence."
    }
  ],
  "outputs": [
    {
      "id": "tradeEquity",
      "label": "Trade-in equity after old loan payoff",
      "format": "currency",
      "digits": 2,
      "primary": true,
      "currency": "USD"
    },
    {
      "id": "eligibleAllowance",
      "label": "Trade allowance eligible under entered cap",
      "format": "currency",
      "digits": 2,
      "currency": "USD"
    },
    {
      "id": "taxableBase",
      "label": "Modeled taxable purchase base",
      "format": "currency",
      "digits": 2,
      "currency": "USD"
    },
    {
      "id": "salesTax",
      "label": "Modeled tax under entered rule",
      "format": "currency",
      "digits": 2,
      "currency": "USD"
    },
    {
      "id": "taxSaving",
      "label": "Tax-base credit saving",
      "format": "currency",
      "digits": 2,
      "currency": "USD"
    }
  ],
  "formula": {
    "expression": "eligible tax-base credit = permitted ? minimum(trade allowance, confirmed cap, purchase price) : 0.",
    "note": "Inputs are converted to canonical units before evaluating this stated formula."
  },
  "examples": [
    {
      "label": "Illustrative defaults; required verification checks remain unconfirmed",
      "inputs": {
        "unitSystem": "imperial",
        "purchasePrice": 35000,
        "tradeAllowance": 12000,
        "oldLoanBalance": 7000,
        "salesTaxRate": 6.25,
        "creditPermitted": false,
        "confirmedCreditCap": 0
      }
    }
  ],
  "sources": [
    {
      "label": "DOE energy-use arithmetic",
      "url": "https://www.energy.gov/energysaver/save-electricity-and-fuel/appliances-and-electronics/estimating-appliance-and-home"
    },
    {
      "label": "NIST unit conversion guidance",
      "url": "https://www.nist.gov/pml/special-publication-811"
    },
    {
      "label": "CFPB loan-estimate explanation",
      "url": "https://www.consumerfinance.gov/owning-a-home/loan-estimate/"
    }
  ],
  "publicSlug": "trade-in-credit",
  "namespace": "us",
  "countries": [
    "us"
  ]
}