Quote:
Originally Posted by ronn
new value- 5k...............lol
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Unfortunately the value goes up not down.
I had a friend who worked for a game show. They always gave the winners a 1099 for the retail value of what they had won. Most were lucky to sell the stuff to cover their taxes. He said since cars would last multiple years you could depreciate them over time - and not take a big 1 year hit.