Age Verification

Thank you for your interest in Sturmgewehr.com  
Our site is for individuals at least 18 years old.

Jump to content

boywonder777

Seaman
 View Profile  See their activity

  • Posts

    26

  • Joined

  • Last visited

  • Days Won

    3

 Content Type 

Posts posted by boywonder777

  2. Collection Sale and the IRS

    in General Firearms Discussion

    Posted

    banks need to fill out a form if 10k+ of cash is deposited.  if you break it up into smaller deposits to circumvent that, that's considered structuring which is also illegal and attract more attention. 

    big checks don't automatically flag any tax forms as far as i know, however in the event of an audit it will certainly attract further review.

    MontanaRenegade86 did what i would do, document the acquisition cost, disposition cost and any expenses in the meantime to minimize your capital gains exposure. 

    if you have heirs you want to leave it to, it would be better tax-wise to leave it to them to deal with after you pass.  they will get it at the stepped up basis for tax purposes and not owe a lot of capital gains taxes if they dispose of it soon after you leave it.  consult your cpa or tax professional on that.

    • Like 2

  21. WTB: Colt Sp1 SN: SP05600 to SP08249

    in Semi-Auto Market Board

    Posted

    17 hours ago, John Edwards said:

    Hello again Hurrycane..Sorry I'm so late responding..The forward assist is the large button on the right side of the upper receiver that is rarely needed, but in case a round does not seat is used to slam the bolt carrier closed by a hit with the heel of your hand..Some SP1s had them, and some didn't..I'm looking for one that does, if it's at the right price..Thanks, John

    No factory SP1s had forward assists.  They were all slicksides.  Some colts after the SP1 like the SPORTER II still had the slabside Colt SP1 style lower and they had the A1 uppers w/ forward assists.  They were also large hole so you could take a SPORTER II upper and put it on a SP1 lower if you wanted the SP1 markings.

×
×
  • Create New...