The IRS and selling personal cars???

		The Supercar Registry > General Discussion > Lounge
The IRS and selling personal cars???

Thread Tools

Display Modes

01-21-2004, 04:28 PM

MotownMadman MotownMadman is offline

Senior Member

Join Date: Dec 2002

Location: Michigan

Posts: 1,380

Thanks: 0

Thanked 1 Time in 1 Post

Re: The IRS and selling personal cars???

One angle that will work well in this type of situation is a person is allowed to claim $17,000 per year tax free on a hobby, which can be whatever you claim it to be. It has been a few years since I researched this subject, so the amount could have gone up, down, or the law done away with completely. Worth checking into though.
Motown

__________________
"What Kind Of Bird Dont Fly?......."

« Previous Thread | Next Thread »

Posting Rules
You may not post new threads You may not post replies You may not post attachments You may not edit your posts BB code is On Smilies are On [IMG] code is On HTML code is Off Forum Rules

Forum Jump

All times are GMT. The time now is 02:17 PM.

Dedicated to the Promotion and Preservation of American Muscle Cars, Dealer built Supercars and COPO cars.