FORD GUY

In the past B-J charity auctions Ford and Chevy do NOT donate the cars and are paid sticker price out of the auction proceeds. I cannot verify that they did or did not donate the cars for free, just a FYI so everyone does not assume they did per this thread. I think they should, but they did not call me on this one. https://www.corvetteforum.com/forums...ilies/eek6.gif

Maxie2U

I’ll go with what they announced at the auction that both cars were donated by GM.

wrecker3

Rick Hendrick buys first ZR-1

http://www.corvetteblogger.com/2018/...te-zr1-925000/

davepl

I was going to say... if he was home with the flu and the car was sold to a phone bidder, pretty good odds it was him. We shall see!

3 Z06ZR1

Wholly depreciation? Wholly money loss! Rick has it to toss away!
It is a tax write off but that might be gone next year!

Foosh

Actually, since it's now 2018, it's no longer a tax deduction. The new tax laws became effective 1/1/18 for all of tax year 2018.

Of course, that would be the least of his worries, since his companies will easily make that up w/ the corporate tax rate cut.

LIStingray

To the extend his property taxes (capped at $10k) and charitable deductions exceed $12,000, the charitable deductions are still 100% deductible. I am pretty sure he will get 99%+ of the donation as a tax deduction.

Murray Anderson

They take the MSRP and deduct it from the amount given, what’s left is the amount of charitable contributions.

davepl

Anyone making any REAL money gets their deductions backed out or slapped with AMT anyway. Odds are by the time you're at that level you can't deduct charitable stuff anyway, so it's just a donation, not a write-off.

Maxie2U

Short article “Two Corvettes crush a Mustang”. Love it.

http://lite1065.com/two-corvettes-cr...everyone-wins/