I don't know that you have to report it unless you are a car dealer, and if
you sold it for less then you invested you couldn't take a loss. At least
that's what my uncle's second wife once told me and she worked for the IRS
before retiring. I sold a classic car for much less than I had invested to
buy my Tiger just a couple years ago.
Paul
>From: RMEbstein@aol.com
>Reply-To: RMEbstein@aol.com
>To: stubrennan@comcast.net, tigers@autox.team.net
>Subject: Re: Prices
>Date: Tue, 11 Oct 2005 14:08:36 EDT
>
>Minimize the tax impact? Don't report it :-)
>
>Actually, the tax code may have an exemption for hobbyists.
>
>Rodney
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