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63RedBrier

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Posts posted by 63RedBrier

  1. A friend and I spent an entire day driving down to an adjoining state to look at and possibly buy a fairly desirable collector car.  Burned a few tanks of diesel hauling around an empty enclosed trailer.  The seller had sent great strategic photos of the best areas of the car, but neglected to show the gaping rust holes big enough to fit your fist through!  No sale!  Glad I spent the time and money to look at the car in person…

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  2. 4 hours ago, alsancle said:

     

    I don't think anybody does.  If you have a gain you'll need to report it when you do your taxes.  

    If one buys a vehicle for $1k, invests $2k in parts, and another $2k in labor, and sells it for $5k, do they need to report anything?  What if they sell it for $4k, can they report a $1k loss?  Overly simplistic, but do you get the idea?  If one stays below whatever the current (cash?) threshold is, there shouldn’t be an issue, correct?

  3. Hi, Jake!  Have you seen the car in person?  If not, I would not make any offers until you do.  Why was it parked?  The bottom of the back seat looks rough, but the rest may just need a good cleaning/polish/wax.  It may be cheaper and more beneficial historically to preserve what is there.  Please keep us all posted as you move forward on this potential acquisition.  Greg

  4. 1 hour ago, Larry Schramm said:

    Unfortunately a lot of that stuff gets thrown into a dumpster.  I recently bought a car that I do not need only because the car and a ton of extra parts did not get thrown in the dumpster and to the crusher. (1928 Dodge)  Unfortunately this is what happens when there are no "car people" around after the collector passes. 

     

    PS: If anyone knows of someone wants to buy a project Dodge touring with literally a ton of parts, please send them my way.  I can send pictures.

    Hi, Larry!  Where is the Dodge located?  Greg

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