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Old November 28th 05, 07:38 PM posted to rec.aviation.owning
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Default AOPA Plane Giveaway and Taxes

wrote:
Of course as noted elsewhere in this thread, that won't help with

the
winner of this plane because you can't take depreciation against

an
asset you got for free.


Your basis is the amount included in income on Form 1040.

Fred F.