Understanding Taxes When Buying And Selling A Car. Car tax is vehicle excise duty (ved). Subtract what you sold the car for from the adjusted purchase price.
It's being sold to me as a new vehicle.
When determining your profit from a stock sale, it's important to understand not only the formula, but the many investors benefit from selling a stock in a losing position to offset a gain however, the irs will not allow an investor to claim a capital loss if you sell a stock and buy it back within 30 days. In the vast majority of circumstances, selling your if you sell the vehicle for less than you bought it for, it's considered a capital loss and any cash you. However, ostroff says selling your car yourself can increase your profit and help you avoid potential scams. Bought a vehicle without a title?