AOPA Cardinal tax value?

"Mike Noel" wrote in message
. ..
Any idea what the tax value will be on the AOPA Cardinal? The latest AOPA mag
claims about 350K has been invested by various suppliers in the plane. If the
tax man thinks it is worth 350K, wouldn't someone need to shell out nearly
100K in taxes to claim it?

That is why many of those planes are immediately sold by the winners. That
said, the investment in the plane probably does not determine its tax value any
more than your investment in your own plane determines its market value. For
example: If I took a bummed-out C-150 and lavished $150,000 on it, what could I
sell it for? (Hint: somewhere near the top of the market for a C-150, but
something far less than $150,000)

My guess is that the tax value would more likely be based on a likely selling
price. Vref would probably be a good starting point.

Vaughn