Care to clarify that statement and put it into perspective? On the surface, it's meaningless.
Assuming you replied to my post, are you suggesting that you'd advise your client to depreciate a $50K basis, rather than reduce the basis by the rebate? (That would put you in a slim minority, even among internet based authorities).
If you would reduce the basis, explain why a similar reasoning wouldn't call for a reduction of gross gambling losses by received "rebates".
---In vpFREE@yahoogroups.com, <e_mayhorn@...> wrote :
yes, very few are taxable
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Posted by: harry.porter@verizon.net
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