Dj Merrill wrote: > jcho...@ksu.edu wrote: > >> be great. I am trying to gather information on the value of other KR's >> so I can have some kind of an argument. >> >> > > There are several for sale on Barnstormers in the $7k to $8k range. > You could try printing off those ads as examples of "fair market value". > > -Dj > > The General Aviation Revitalization Act of 1994 does not apply to us, so we are liable forever if we sell. Explain this to the tax man in our argument that there is a negative net value if you ever tried to sell, making the argument that only the value of the materials could be considered.... Here is some information on the increase in litigation. I understand no one wants to hear their "value" of their plane is not big $$$ but a liability, but seriously, look at the big picture with this tax man.
http://www.aviationlawcorp.com/content/liabhomeblt.html
