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Taxes...
I am also interested on the tax implications.
I do most of my own work, can I just document it with parts receipts and "pay" (log it) myself a per hour labor rate per job (like a shop) and subtract that from the selling price to come up with the capital gains tax, or do the receipts have to be from a shop?
I'm not sure how to properly handle this issue if I ever decide to sell it in the future. I guess there is no way to get a tax break in "depreciation," but the IRS sure wants "appreciation" taxes paid...
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