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Help Needed Selling Truck and Trailer please

Discussion in 'Ask An Owner Operator' started by Christank, Jun 22, 2010.

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  1. Jun 22, 2010 #1
    Christank

    Christank Bobtail Member

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    Jun 21, 2010
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    The truck and trailer are all depreciated...is it that the less you sell them for then the less you owe on capital gains taxes....or do you owe all of that depreciation back no matter what. What if the trailer is called rolling stock,then how do you do it?
     
    Christank, Jun 22, 2010
    Christank, Jun 22, 2010
    #1
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  3. Jun 23, 2010 #2
    diggergreg

    diggergreg Bobtail Member

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    Jun 9, 2010
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    Talk with your tax preson hopefully a cpa. But generally the capital gains can go back to off-set your losses. If you depeciated your equipment 0 then anything, you sell it for on paper will be a capital gain. If you had losses in prior years you may be able to use that to off-set the capital gain from the sell. I hope this helps
     
    diggergreg, Jun 23, 2010
    diggergreg, Jun 23, 2010
    #2
  4. Jun 28, 2010 #3
    Christank

    Christank Bobtail Member

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    Jun 21, 2010
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    I need to sell my tractor truck and trailer but I don't know how. I figured it would be best to sell to a dealership if I can find one because I don't understand the sales tax and I should probably sell it within my state also? Am I right on this?? I have looked into auctioning them off but it is a bad deal because they could sell for 50 dollars and I would have to take the deal. So I won't do the auction thing. Ayone out there that can help with advice I would appreciate it. Thanks.
     
    Christank, Jun 28, 2010
    Christank, Jun 28, 2010
    #3
  5. Jun 28, 2010 #4
    rookietrucker

    rookietrucker Trucker Forum STAFF Staff Member

    10,061
    7,054
    Jul 15, 2007
    TEXAS
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    How many trucks and trailers are you selling ?
     
    rookietrucker, Jun 28, 2010
    rookietrucker, Jun 28, 2010
    #4
    Christank Thanks this.
  7. Jun 28, 2010 #5
    Christank

    Christank Bobtail Member

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    Jun 21, 2010
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    I have one truck it's a Volvo two bunker and I have one dry van also.
     
    Christank, Jun 28, 2010
    Christank, Jun 28, 2010
    #5
  8. Jun 28, 2010 #6
    Winchester Magnum

    Winchester Magnum Road Train Member

    1,492
    1,647
    Jan 4, 2009
    Alaska highway
    0
    Dealer will give you way less, they need a minimum of 5k turn, likey more. I would put in truckpaper (google it)....

    Taylor and Martin sells a listing of what all their recent auction prices brought for everything they've sold.....IIRC, it's like $10 or so. Would give ya a good idea of what you could expect to get.
     
    Winchester Magnum, Jun 28, 2010
    Winchester Magnum, Jun 28, 2010
    #6
    Christank Thanks this.
  9. Jun 28, 2010 #7
    grimesjm1

    grimesjm1 Medium Load Member

    375
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    Nov 5, 2008
    Kensington,OH
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    sold my first truck and trailer recently. trailer on truckpaper phone was ringing off the hook. tractor in craigslist that took forever but that all depends on your location, truck, and price, i had mine priced high for what it was so it took a minute to sell.
     
    grimesjm1, Jun 28, 2010
    grimesjm1, Jun 28, 2010
    #7
  10. Jun 28, 2010 #8
    rookietrucker

    rookietrucker Trucker Forum STAFF Staff Member

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    Jul 15, 2007
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    I thought you were speaking of selling several tractor and trailers. We have a classified area>> Trucker Forum Classifieds & Trading Post The online truck paper will let you advertise free for 30 days/one time.
     
    rookietrucker, Jun 28, 2010
    rookietrucker, Jun 28, 2010
    #8
    Baack, kickin chicken and Christank Thank this.
  11. Jun 28, 2010 #9
    nutcase

    nutcase Light Load Member

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    May 2, 2010
    Meridian, ID
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    There is also ebay. You can set a reserve price. If the highest bid does not match or exceed the reserve you don't have to sell.
     
    nutcase, Jun 28, 2010
    nutcase, Jun 28, 2010
    #9
    Christank Thanks this.
  12. Jun 29, 2010 #10
    toofast82

    toofast82 Light Load Member

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    Feb 17, 2010
    Illinois
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    There's many places to list your tractor/trailer as said
    -This site's classifieds
    -TruckPaper
    -Local Craigslist
    -Ebay

    I'm sure there's plenty more places, i'm just naming a few.
     
    toofast82, Jun 29, 2010
    toofast82, Jun 29, 2010
    #10
    Christank Thanks this.
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