Paul Tomblin wrote:

So do they valuate the aircraft at the fair market value (ie. what a
normal Commander 112 of that age would fetch), or do they add all the
ridiculously expensive add-ons (none of which AOPA actually pays for,
since it's free advertising for the supplier) to that price and value it
at an amount that you'd never be able to sell the plane for in a million
years?

Basically, you're stuck with what they paid for the plane, plus the price of all
the add-ons. Just as if you bought the plane for that price and paid to have all
that work done. You can try getting an appraiser to produce a value for the
plane, but that won't fly with the State of New Jersey (dunno about the Feds).

The only way I know to pay taxes on a lower value is to sell the plane for less.
Selling the plane automatically determines the market value.

George Patterson
Coffee is only a way of stealing time that should by rights belong to
your slightly older self.