Didn't work that way for us... What do ya have an old Enron accountant
or something? :-) Good luck.

Jon Kraus
'79 Mooney 201

Mark B wrote:
Help me understand this as it seems too good to be true. For this tax
year (2005) we can choose to deduct sales tax on aircraft, if it is
taxed at the same rate, from income on our federal returns. So, if I
live in Texas (no state income tax) and if I buy an aircraft from a
Texas dealer before the end of the year, I can deduct the entire amount
of sales tax for this transaction on my federal return (from income of
course). Is this correct? Are aircraft sales in Texas taxed at the
same "general" amount? (ex 8.25%) Simple math for $250,000 C182 would
be $20,625 in taxes (thus this amount can be deducted).