Indiana Only Allows Sales Price Reduction for “Like-Kind” Trade-Ins

Friday, September 1st, 2017

RV parked by lake.

Indiana Only Allows Sales Price Reduction for "Like-Kind" Trade-Ins

The Indiana Department of Revenue recently ruled that a recreational vehicle (RV) dealer could not reduce the taxable sales price of an RV by accepting a passenger vehicle, such as a car or pickup truck, as a trade-in.

Indiana allows dealers to reduce the taxable sales price of property by accepting "like-kind" property as a trade-in. For the trade-in allowance to apply, the property must be of "the same kind or character."

The ruling relied on guidance stating that a "like-kind exchange" means the trade-in of a passenger vehicle for a passenger vehicle, or an RV for an RV. The allowance does not apply to the trade-in of a passenger vehicle for an RV. Kind Trade Ins Indiana

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TTR has a website that companies subscribe to and use daily. This website provides a list of everything that can be bought or sold in the U.S. It provides simple answers to whether buying or selling these items is taxable (subject to a sales tax or other tax), and it provides all the legal authority to support these tax answers.

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