AOPA Plane Giveaway and Taxes

But I'm not sure how this is helping. I win an airplane and have to pay
tax on the value. I then sell it to my corp, receive a check from my
corp and pay the tax. I guess I don't see the difference. If you are
trying to sell it to your corp for less than FMV then I believe the IRS
provides jail terms for such fancy book work designed to avoid paying
tax. The legal word for this is "arm's length transaction". Even if you
"gift" the plane to your corp, you are required to report it as FMV as
if it was an "arm's length transaction" (i.e. you told it to someone
you didn't know.)

-Robert