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#14
November 27th 07, 03:32 AM
posted to rec.aviation.piloting
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AOPA Cardinal tax value?
Matt Whiting wrote: AOPA says plane will have a FMV of $135K I believe someone said. If I win and put it up for sale but can only get $100K then that's the value as far as the IRS is concerned. Only if you keep it does the $135K have any bearing. Better sell it in the same tax year as you win it then! Yep, that's why they give it away in January. 
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