Sponcer money..... 1099 ????

Philip Saran · 07-29-2008, 06:23 PM

Maybe things have changed some over the years, but in the early 80's
when I ran a I/SA 340 Duster, I claimed the car/truck/expenses on my
tax's and did write off what I had spent and depriciated the cost of the
truck I used as a tow vehicle.

I did get audited the first year, but the only item they questioned was
how I had come up with the value of the truck. I had to have a form
filled out by the used car manager where I worked as a service writer
at the time and turned that back into the IRS, that value was higher
that what I had even claimed in the first place.

That was my experience, your's may differ.

Always best to talk with your tax person, and if you do NOT have a
tax person then I would highly recommend you contact Jordan & Jordan
CPA's in Modesto CA for help. Just ask for Julie.

07-29-2008, 06:23 PM	#9
Philip Saran Senior Member Join Date: Oct 2006 Location: Parker, CO. Posts: 728 Likes: 165 Liked 14 Times in 11 Posts	Re: Sponcer money..... 1099 ???? Maybe things have changed some over the years, but in the early 80's when I ran a I/SA 340 Duster, I claimed the car/truck/expenses on my tax's and did write off what I had spent and depriciated the cost of the truck I used as a tow vehicle. I did get audited the first year, but the only item they questioned was how I had come up with the value of the truck. I had to have a form filled out by the used car manager where I worked as a service writer at the time and turned that back into the IRS, that value was higher that what I had even claimed in the first place. That was my experience, your's may differ. Always best to talk with your tax person, and if you do NOT have a tax person then I would highly recommend you contact Jordan & Jordan CPA's in Modesto CA for help. Just ask for Julie. __________________ Phil Saran Parker, Colorado