Sorry guys.., but an aircraft is not real estate..!! It is not real
property for tax purposes. If you are a private individual the IRS needn't
know a damn thing about it unless you are flying it for hire, using in a
business.., and bring drugs into the country.., AND it certainly is not part
of a P/L statement unless it's registered to a corporation. If you hear
anything from the IRS ask'em how they got involved, where's the profit in
owning an aircraft..?? Believe me.., I haven't had'em answer the question
when I last ask'd back in 1982..!!!