That was my thought too.
Hereās an idea to relieve the boredomā¦bid 50k on this really nice 442 convertible up at auction and see if anyone outbids you! Youāll be on the edge of your seat for the next hour and a half.
Only 2 issues with that, 1st money, 2nd My Road Runnerā¦
Congrats to the new ownerā¦
And Musicmonger came in out of nowhere with only 2 minutes to goā¦ lol
$9,000 jump at the endā¦wowā¦
Iām guessing somebody put in a max bid that beat othersā automated max bids, we only see the winning one. Otherwise, why jump it up 50%?
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Youād think these auction sites would get higher bids if there was an automatic, say, 30 second extension for bids at the deadline. What am I missing?
Well will that cover some of your costs? Of course you have to wait until the check clears and itās on the trailer. Thatās why I quit trying to bid on eBay. Someone always had a sneaker bid at the end. If I canāt do a buy now, I donāt
Bother.
Not only are Long Term Capital Gains taxed at a low tax rate, the tax is only on the Gains.
Sale Price LESS the original cost of acquisition, the cost of improvements and the capitalized costs of maintaining your āinvestmentā.
Thereās a bunch of other rules that apply but in the āReal Worldā Iāve never seen an IRS Examiner show much of an interest in a Recent Classic unless it was a half hour chat to talk about āwhen we were kids and running around in these cars and now weāre butting braces on our own kidās teethā.
That depends on if youāve already deducted them over the years.