Guest Posted March 13, 2002 Share Posted March 13, 2002 Are there any CPA's EA's or any other kind of DFer who know what tax breaks there are, if any, for antique vehicle owners? Link to comment Share on other sites More sharing options...
Guest Posted March 13, 2002 Share Posted March 13, 2002 Be more specific. What kind of breaks are you looking for? Titleing tax, sales tax, inheritance tax, capital gains tax on sales profits, personal property tax, sintax or maybe you are looking to claim them as a dependent. The weather at Leavenworth will be getting nice soon. Should we reserve a room for one? Link to comment Share on other sites More sharing options...
ted sweet Posted March 13, 2002 Share Posted March 13, 2002 I am a CPA, unless you are in a business regarding cars there are no income tax breaks. Link to comment Share on other sites More sharing options...
Guest Posted March 13, 2002 Share Posted March 13, 2002 I was thinking federal income tax. Perhaps when you sell an antique vehicle, can you take a capital loss on the sale of an antique or collectible? Link to comment Share on other sites More sharing options...
1937hd45 Posted March 13, 2002 Share Posted March 13, 2002 Yeah, right. If that were so no car would sell at a profit. Link to comment Share on other sites More sharing options...
Bill Boudway Posted March 15, 2002 Share Posted March 15, 2002 There in one tax benifit that is available and that is by donating your car to a qualified organization. For example, the AACA museum. You need to review this with your tax professional before you do it to determine the amount of benifit, and also have the vehicle appraised. Link to comment Share on other sites More sharing options...
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