Peter R. wrote:
"Robert M. Gary" wrote:

That doesn't effect the amount of taxes you pay on it, just when you
pay the taxes.

Accelerated depreciation expense will most likely offset a good portion of
any income tax owed on the awarded aircraft, assuming both events occurred
during the same tax year.

If the capital asset doesn't really depreciate to match, you will have
to recapture that depreciation deduction. Chances are you'll still
come out ahead though.