J.Kahn wrote:

Is it possible to have the aircraft appraised upon completion to
establish a base line value, then pay gains tax on the increase from
that upon sale? It seems grossly unfair to be taxed on the full
difference between the original materials cost and the later sale price.

That's the wway it is.


For example, in Canada you don't pay capital gains tax on a personal
residence but you do on income property.

In the US you owe capital gains on your residence, but there is an
exclusion of $250,000 if it is your principle residence for 2 out of
the last 5 years.

There's no such exclusion for most anything else/