wrote:

Sure, for the s-corp. But the recipient will still have to pay taxes
on the FMV of the plane that she received for free and sold to the
s-corp.

I agree that the owner will owe taxes on the winning aircraft.

However, assuming the winning recipient of the AOPA aircraft is also the
owner of the s-corp, then any tax benefit (aka tax over-payment refund)
that the s-corp receives from accelerated aircraft depreciation can be
passed through to the recipient's individual return, thus negating most of
the income tax owed on winning the aircraft, correct?

I am looking at the overall net affect (check sent to the IRS) of such a
transaction, not the impact of each tax event taken separately.

--
Peter