I don't know if aircraft are different, but with investment real estate
you have to factor in the depreciation if you were entitled to deduct
it, even if you didn't.


Mike Rapoport wrote:

You don't factor in depreciation unless you depreciated it for tax purposes.

Mike
MU-2

"BTIZ" wrote in message
news:Wzydf.769$7A.758@fed1read04...

ok... I'm not a tax expert... but when you sell a car.. what taxes apply
to the seller..
is it a capital gains or loss.. if you intend to take a capital gain/loss
be sure to factor in depreciation

I can't ever imagine it being a gain, unless it's an antique bird that has
really appreciated in value..

the buyer pays all sales taxes..
BT

"George Patterson" wrote in message
news:BDxdf.1644$Pa4.1059@trndny01...

Ok, I know we have some tax experts out there. Tell me. When you sell an
aircraft, what taxes apply to the seller? Is this a capital gains/loss
situation? We're talking about an aircraft owned by and registered to a
private individual and used for pleasure.

George Patterson
Drink is the curse of the land. It makes you quarrel with your
neighbor.
It makes you shoot at your landlord. And it makes you miss him.






--
"You can support the troops but not the president"
--Representative Tom Delay (R-TX), during the Kosovo war.