George Patterson wrote:
BTIZ wrote:
ok... I'm not a tax expert... but when you sell a car.. what taxes
apply to the seller..

According to the IRS, the selling price of the car is taxed as income. I
would prefer that that is not the case with aircraft.

It's not the case with either the car or the aircraft which the IRS
treats the same. The taxable gain is the difference between the
sales price and the basis (essentially what you paid for it). Car's
rarely appreciate.