Where on the 1040 does this come into play?
Dick Ryan ex. 24022
(650)312-4022
Risk Management Dept. #857
-----Original Message-----
From: MMJB28A@prodigy.com [mailto:MMJB28A@prodigy.com]
Sent: Tuesday, August 03, 1999 5:00 PM
To: datsun-roadsters@autox.team.net; jstromgr@sqi.com
Subject: RE: Collector Car
I hope everyone is taking advantage of the current tax laws regarding
collectible cars. if you have designated your (roadster) as a long
term investment, you can either write off all money spent on
repairs/restoration of your vehicle, or you can depreciate your car
over a period of 7 years. probably more sense to depreciate it if you
buy a nice one to start, better to expense out if you're
restoring/refurbishing one.
Craig Halsted
|