{
  "$schema": "https://json-schema.org/draft/2020-12/schema",
  "$id": "https://askcalculators.com/us/trade-in-credit/schema.json",
  "title": "Vehicle Trade-In Tax Credit Worksheet — United States inputs",
  "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.",
  "type": "object",
  "properties": {
    "purchasePrice": {
      "title": "Taxable purchase price before trade allowance",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 35000,
      "minimum": 0,
      "maximum": 1000000000000,
      "x-step": 0.01,
      "x-prefix": "USD",
      "x-unit": "currency"
    },
    "tradeAllowance": {
      "title": "Dealer trade-in allowance, not equity",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 12000,
      "minimum": 0,
      "maximum": 1000000000000,
      "x-step": 0.01,
      "x-prefix": "USD",
      "x-unit": "currency"
    },
    "oldLoanBalance": {
      "title": "Loan balance to repay on traded vehicle",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 7000,
      "minimum": 0,
      "maximum": 1000000000000,
      "x-step": 0.01,
      "x-prefix": "USD",
      "x-unit": "currency"
    },
    "salesTaxRate": {
      "title": "Confirmed applicable purchase tax rate",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 6.25,
      "minimum": 0,
      "maximum": 50,
      "x-step": 0.1,
      "x-unit": "percent"
    },
    "creditPermitted": {
      "title": "Verified local rules permit this trade-in allowance to reduce this tax base",
      "type": "boolean",
      "default": false
    },
    "confirmedCreditCap": {
      "title": "Confirmed maximum allowance eligible for tax-base credit",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 0,
      "minimum": 0,
      "maximum": 1000000000000,
      "x-step": 0.01,
      "x-prefix": "USD",
      "x-unit": "currency"
    }
  },
  "required": [
    "purchasePrice",
    "tradeAllowance",
    "oldLoanBalance",
    "salesTaxRate",
    "confirmedCreditCap"
  ],
  "additionalProperties": false,
  "x-askcalculators": {
    "version": "20.16.0",
    "calculatorUrl": "https://askcalculators.com/us/trade-in-credit/",
    "queryExample": "https://askcalculators.com/us/trade-in-credit/?purchasePrice=35000&tradeAllowance=12000&oldLoanBalance=7000&salesTaxRate=6.25&creditPermitted=0&confirmedCreditCap=0",
    "migrationStatus": "new",
    "reviewStatus": "pending",
    "pageStatus": "live",
    "workStatus": "pending",
    "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."
    },
    "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."
    },
    "outputs": {
      "tradeEquity": {
        "title": "Trade-in equity after old loan payoff",
        "type": "number",
        "x-format": "currency",
        "x-currency": "USD",
        "x-digits": 2,
        "x-primary": true
      },
      "eligibleAllowance": {
        "title": "Trade allowance eligible under entered cap",
        "type": "number",
        "x-format": "currency",
        "x-currency": "USD",
        "x-digits": 2
      },
      "taxableBase": {
        "title": "Modeled taxable purchase base",
        "type": "number",
        "x-format": "currency",
        "x-currency": "USD",
        "x-digits": 2
      },
      "salesTax": {
        "title": "Modeled tax under entered rule",
        "type": "number",
        "x-format": "currency",
        "x-currency": "USD",
        "x-digits": 2
      },
      "taxSaving": {
        "title": "Tax-base credit saving",
        "type": "number",
        "x-format": "currency",
        "x-currency": "USD",
        "x-digits": 2
      }
    }
  }
}