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  #1  
Old 03-26-2021, 04:30 PM
Lemos Lemos is offline
 
Join Date: Jun 2020
Location: Julian, California
Posts: 65
Default The AOPA RV-10 never flies

In the nearly three months since AOPA handed over the keys to the RV-10 to the winner, the airplane has flown exactly zero times. Itís terribly sad. I am guessing whoever won it doesnít really want it at all.

If anyone has contact info for the owner, can you please send it to me? I want to make him an offer on the airplane.
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  #2  
Old 03-26-2021, 04:32 PM
PhatRV PhatRV is offline
 
Join Date: Mar 2018
Location: Buena Park, California
Posts: 436
Default

I suppose there is a heavy tax bill that comes with the plane.
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  #3  
Old 03-26-2021, 04:41 PM
Kyle Boatright Kyle Boatright is online now
 
Join Date: Aug 2005
Location: Atlanta, GA
Posts: 4,461
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Quote:
Originally Posted by PhatRV View Post
I suppose there is a heavy tax bill that comes with the plane.
You bet. Something like that is taxed as regular income. So if it was valued at $200K, the winner owes $60K or more in taxes on it.

In today's market, that's easily a $200K airplane and would sell quickly if the owner put it on the market.
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  #4  
Old 03-26-2021, 05:26 PM
No_0ne No_0ne is offline
 
Join Date: Jan 2016
Location: Martin, Tn
Posts: 77
Default

I remember reading years ago that the majority of the AOPA giveaway planes get sold quickly after the drawing. Many to raise funds for paying the taxes, others due to the type of plane not being suitable for the winner's mission or skill level.
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  #5  
Old 03-26-2021, 05:30 PM
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emsvitil emsvitil is offline
 
Join Date: Oct 2019
Location: SoCal
Posts: 497
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I don't think he can get taxed until ownership is officially transfered.

Maybe they're trying to come up with a way to minimize taxes...............
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  #6  
Old 03-26-2021, 06:51 PM
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Bill Boyd Bill Boyd is offline
 
Join Date: Sep 2006
Location: Landing field "12VA"
Posts: 1,637
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Given what I think I know about that particular -10, I would buy it for 200k even though I already have one - to resell it for the 230k+ that it's probably worth in today's market.

But yeah, them taxes - ugh
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  #7  
Old 03-26-2021, 06:54 PM
Kyle Boatright Kyle Boatright is online now
 
Join Date: Aug 2005
Location: Atlanta, GA
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Quote:
Originally Posted by Bill Boyd View Post
Given what I think I know about that particular -10, I would buy it for 200k even though I already have one - to resell it for the 230k+ that it's probably worth in today's market.

But yeah, them taxes - ugh
I have the canopy cover that began its life with that airplane. If you want to capture some of its aura, I can cut you a deal. ;-)
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  #8  
Old 03-27-2021, 04:25 AM
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cderk cderk is offline
 
Join Date: Sep 2015
Location: Park Ridge, NJ
Posts: 726
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Quote:
Originally Posted by Bill Boyd View Post
Given what I think I know about that particular -10, I would buy it for 200k even though I already have one - to resell it for the 230k+ that it's probably worth in today's market.

But yeah, them taxes - ugh
I got to see it up close when i traveled down to AOPA for a visit. Itís OK. They did a really good job upgrading everything. That said, I like mine better

I think it could easily sell for 200-250k
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  #9  
Old 03-27-2021, 06:23 AM
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Walt Walt is online now
 
Join Date: Aug 2005
Location: Dallas/Ft Worth, TX
Posts: 6,020
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Quote:
Originally Posted by Kyle Boatright View Post
You bet. Something like that is taxed as regular income. So if it was valued at $200K, the winner owes $60K or more in taxes on it.

In today's market, that's easily a $200K airplane and would sell quickly if the owner put it on the market.
I remember when the airline took delivery of new planes it was usually handled in the air flying over Nevada or some such tax tree zone
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  #10  
Old 03-27-2021, 06:40 AM
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Carlos151 Carlos151 is offline
 
Join Date: Jan 2008
Location: Lebanon, TN
Posts: 345
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Quote:
Originally Posted by Walt View Post
I remember when the airline took delivery of new planes it was usually handled in the air flying over Nevada or some such tax tree zone
I know when the airline I fly for was buying new A319ís, they would fly the new airplanes from Hamburg to ReykjavŪk, pick up a bag of mail, then fly to Indianapolis. The aircraft was then taxed as a used airplane upon arrival in the US. Now thereís some creative accounting!

Maybe if AOPA flies the airplane to say Panama, registers there, then brings it back as a registered foreign asset?
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