"Mike Rapoport" wrote in message
k.net...
You pay on the April 15th in the following year (ignoring estimated taxes). If you sell it, then the sale price is the
value and it doesn't matter what AOPA says it was worth. If you use it and then sell it, you would have to add the
depreciation from your use to the sale price. If you keep it, you will have to pay taxes on what it is worth but if
you think that AOPA's estimate is too high then you can get an appraisal. The IRS could challenge your appraisal but
AOPA doesn't just declare the value and that's it.

Mike
MU-2



So it would be possible for some to win the plane then sell it to someone for a ridiculous price, and declare that as
the taxable value of the plane...