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#11
November 28th 05, 06:48 PM
posted to rec.aviation.owning
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AOPA Plane Giveaway and Taxes
wrote:
Since you can only take depreication against the basis (or cost to put into service), and since her basis would be $0 since she got the plane for free, I can't see the point of this strategy. What if the recipient's s-corp purchased the aircraft for the business? Wouldn't that establish a basis? -- Peter 
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