Wouldn't your cost basis be the amount of money that you paid to aquire it?
(the taxes) Then the remainder of the value be considered capital gains
should you sell it?
Jim

"Nathan Young" wrote in message
...
On Thu, 02 Dec 2004 00:49:50 GMT, "G.R. Patterson III"
wrote:



Nathan Young wrote:

I would keep it, fly the heck out of it, and smile all the time... I
wonder what the cost basis is for the plane for tax purposes?

$225,500. So far.

Is that the money AOPA put into it, or market value? Wouldn't the
cost basis be the market value?




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