[COPO PETE]

A year ago I was offered some big money for one of my COPO's. My accountant told me I would have to pay capital gains on it at 50%. Did'nt have a lot of bills to prove, cause a lot of the parts I paid cash for. Luckly I don't want to sell, I'm having too much fun. The thing that pissed me was if on the same day I bought two cars at $50,000, and in ten years, the one car was worth $100,000, I would have to pay capital gains on $50,000. The other car was a poor investment and sold it for $10,000, I was told "it sucks to be you". I could not claim that as a expense.
I'll just hang on to my cars thanks. That's what my boys are hoping anywayz!
Peter