Tax consequences of selling a homebuilt.

On Thu, 14 Sep 2006 15:25:09 -0400, TxSrv wrote:

newsreader wrote:
...
Informants? The IRS tactics sound more like the Gestepo and KGB, than
a government agency. But it's good to know. Thanks for the tips on
what to aviod.

IRS is just the recipient of info supplied by "good citizens."
Often people who do not report a transaction not on Form 1099
can't resist bragging to others about it.

F--

Yes, good info. One might sell his plane, and learn to keep his mouth
shut about it to everyone. I still wouldn't mention it at tax time.
I'll take my chances. You take yours. But it will be the quietest sale
in history.

On Thu, 14 Sep 2006 19:48:31 -0000, "karel"
wrote:


"newsreader" wrote in message
.. .

Informants? The IRS tactics sound more like the Gestepo and KGB, than
a government agency.

(OT)
And what do you think Gestapo and KGB were/are,
except government agencies?


So true. Our IRS somtimes resorts to "questionable" tactics. One book
I read that was a great read was Victor Belinko's about when he
defected in that Mig 25 to Japan. It was good in another way, as he
did a great job of describing life under Soviet rule. He said the KGB
man would show up at the airport just about every day. He would say,
"good day, what do you hear?" It wouldn't surprise me to see IRS
agents showing up here and there, saying "what do you hear?"