willshak wrote:
on 9/10/2007 4:55 PM Banty said the following:
In article om,
....
You're claiming that..., what now..., that, because they used the
vehicle for
training, it was somehow worth more than... a similar auto they could
have
bought from you via the local ads or from a junker? Hyelloooooh!
....
A lot of the cars they rebuild, they sell.
....

The IRS rules seem pretty clear that they would have to document up
front the intent to and extent of such work and still only be allowed
FMV for the vehicle as a deduction after such repair/rebuilding was
completed, and if subsequently sold for less, only that actual returned
value would be eligible deduction. Nothing indicates any ancillary
value of the inherent value of the training derived from this exercise
or somesuch additional value ascribed would be allowable.

Documentation is now pretty onerous for a defense against being accused
of such shenanigans, too, so would think it fairly impractical to engage
in such a practice in large scale...

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