Posted by Rick Denney on February 01, 2004 at 10:46:23:
In Reply to: Re: Re: Re: Re: Re: Re: Writing off a new horn posted by Urbie Watrous on January 29, 2004 at 11:10:24:
If you didn't owe it, you wouldn't have to pay it (at a higher rate) when you sold the tuba. Unless, of course, you didn't tell the IRS you sold the tuba, in which case you are hiding the sale of a business asset from the IRS. I assume you are not recommending that, even if there is a high likelihood of getting away with it. But a few folks get caught. I don't want to be one of those folks.
There is one way not to have to ever pay it back, and that is to never sell the tuba. Again, that is bad advice for a college kid, in my (ahem!) humble opinion.
Rick "who can't think of anything in a bakery except (maybe) the building that doesn't depreciate, and so wonders at the value of such experience with this question" Denney