Recent content by Heal With Steel

BugEye! I don’t post often but I can’t resist a car thread! I had a BugEye Sprite about 30 years ago and bought another one about 9 years. I absolutely love BugEyes! Article in the current Hemmings Motor News about it: https://assets-origin.hemmings.com/stories/article/be-like-dean

Anyone know if it will be taxable income?

I’m new to the forum but think you folks might want to know that profit made from collectible cars is not taxed at regular Capital Gains rate, rather it is taxed at a special rate which is basically like Ordinary Income. This can make a huge difference when you sell an appreciated car...