Thread: I won this 1966 Cobra and don't know what to do with it????
View Single Post
  #24 (permalink)  
Old 10-24-2003, 10:23 AM
DownTown DownTown is offline
CC Member
Visit my Photo Gallery

 
Join Date: Oct 2003
Location: Wimberley, Texas, TX
Cobra Make, Engine: Superformance 1966 Cobra with a true Ford 427-side-oiler motor. It is a factory built reproduction of the famous AC Cobra built by Carroll Shelby in the 60's
Posts: 62
Not Ranked     
Default
I want to take the opportunity to thank those of you who are interested in helping me in how to honorably handle this situation with this car. There are those however who need to except reality as it is and know that while it may seem funny they are not. I am overwhelmed with theadvice of the members of this site and at this current time have asked my CPA about the tax issues. The way the car was signed over tome was through an affidavit of donation and dsinated to me as a gift and not a prize. So in that lies a tightrope of tax law interpretation that is like winding up a spun fishing reel. Anyhow I will take the suggestions and do the homework and get the information that some of youare after and will post it as soon as possible for further discussion.
Thanks--DownTown
__________________
Always move forward through life and keep an active mind so that you don't get lazy and I end up passing you in my COBRA!!!