On Tuesday, March 1, 2016 at 7:59:29 AM UTC-8, Six-Seven Romeo wrote:
I searched in RAS and didn't find anything about taxes.

I live in a state where they have sales tax on aircraft and when buying a glider for tens of thousands of dollars this can be a major impact. Maybe I need to move to Delaware and incorporate!

Sales tax aside, what about capital gain or loss when selling a glider? This certainly applies to personal property (i.e. your home). Does it apply to a $100K glider or is an aircraft more like an automobile? If I sell it for more, then do I have to declare the capital gain? Conversely, it is more likely that I will sell it for less so can I claim a capital loss? Or is this only is the aircraft is related to a business?

So many questions. Expiring minds want to know.

Thanks, John

If you are buying a glider for a business you will depreciate it over a given period of time. When you sell it you have a capitol gain. If you buy for personal use you are not writing it off your income taxes so capitol gains should not apply. None the less consult competent tax advisers.