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-   -   Man, am I lucky! (http://forums.pelicanparts.com/off-topic-discussions/834439-man-am-i-lucky.html)

Gogar 10-17-2014 03:45 PM
Terry,

Did they send you an actual link in that second email?

Where does the link actually go?

I agree with you; waste some of their time.

madcorgi 10-17-2014 05:02 PM
Quote:
Originally Posted by Hugh R (Post 8311301)
And my wife insisted on reporting it to the IRS. So I paid them lots of $ in capital gains. Funny thing, I don't recall an IRS agent under the car the countless times I was working on it for 30+ years with anti-freeeze/oil dripping on me in the freezing cold. I don't think the IRS agent ever got skinned knuckles, back aches, or a broken finger or two either.
I think you can count the reasonable value of your efforts towards the basis to offset capital gains. That's about all I remember from tax class 30-some years ago. But I do know from working for the Feds that you do NOT want the IRS, or worse, the tax division of DOJ in your ****. The toughest lawyer I ever worked with was a tiny little gal from Tax. Saw her rip a guy's lungs out in court.

Terry

zelrik911 10-17-2014 07:53 PM
Not Fair!!!
 
Quote:
Originally Posted by Hugh R (Post 8311301)
And my wife insisted on reporting it to the IRS. So I paid them lots of $ in capital gains. Funny thing, I don't recall an IRS agent under the car the countless times I was working on it for 30+ years with anti-freeeze/oil dripping on me in the freezing cold. I don't think the IRS agent ever got skinned knuckles, back aches, or a broken finger or two either.
Also - why couldn't you balance out the capital gain on this car AGAINST the capital LOSS that occurred when you sold other cars for less than you paid for them? Now that would be fair.

In my case i have some serious losses spread over 50 years of car/bike/boat ownership to balance out any gains that may be made on the odd lucky 911 sale. :rolleyes:

onewhippedpuppy 10-17-2014 07:59 PM
Quote:
Originally Posted by Hugh R (Post 8311129)
When I sold my Aston Martin DB4 I got a call from a guy who wanted to buy it for the Prime Minister of Kuwait he offered my selling price of $250K. I told him I was unsure about his legitimacy. He said meet me at your bank on Monday, he showed up with $250K in cash, bank said it was all real money, which it was.
Winning!

Jeff Higgins 10-17-2014 08:48 PM
Quote:
Originally Posted by madcorgi (Post 8311212)
Hugh,

The one and only time I had $250K in cash, I blew it all in a single summer on cars, guitars, and girls.

The rest I wasted.

Terry
Ah, Terry - I love it.

Georgie Best, famous (infamous?) Irish footballer and Manchester United star (when I was but a lad) infamously told Johnny Carson "I spent most of my money on booze, birds, and gambling. The rest I just wasted...".

Give 'em hell. Have fun. Make 'em work for it.

Missed you at the track this year...:(

DanielDudley 10-18-2014 03:52 AM
Quote:
Originally Posted by madcorgi (Post 8311449)
I think you can count the reasonable value of your efforts towards the basis to offset capital gains. That's about all I remember from tax class 30-some years ago. But I do know from working for the Feds that you do NOT want the IRS, or worse, the tax division of DOJ in your ****. The toughest lawyer I ever worked with was a tiny little gal from Tax. Saw her rip a guy's lungs out in court.

Terry
Her hair was perfect.

KFC911 10-18-2014 03:58 AM
Quote:
Originally Posted by DanielDudley (Post 8311847)
Her hair was perfect.
He ain't Jim :D

After seeing the other threads 'bout 911 prices...how much ya askng Terry?

madcorgi 10-18-2014 08:33 AM
Quote:
Originally Posted by DanielDudley (Post 8311847)
Her hair was perfect.
That must be it--she was a werewolf!

Terry


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