Capital Gains on muscle car (state of PA)

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Capital Gains on muscle car (state of PA)

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03-18-2008, 07:14 PM

mockingbird812 mockingbird812 is offline

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Capital Gains on muscle car (state of PA)

Trying to help a friend out. Friend bought a nice muscle car brand new in 1970 and sold it in 2007 for a sizeable appreciation. Initially my friend was told by her accountant that a Capital Gains of 15% was owed, but more recently friend was told 28% because "the car is an antique". Does this make sense?

Appreciate any guidance. Thanks!

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