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Toml33611

Advice on what to do with a 65 Skylark Convertible

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In this case, put a high number on it as usually it is non-taxable as part of an inheritance.  Then when it is sold, the proceeds will be minimal.  Thus, if your "cost basis" is $8500 and you sell it for that, there is no profit on the sale.  Of course, it should be appraised and documented or at least the NADA, Kelly, etc. values attached.  

 

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