Quote:
Originally Posted by eanzenberg
Literally my point. It’s not charity, it’s welfare to the elites who staged this. The joke is the “fair market value” is $50k. That’s tax fraud, plain and simple. The IRS better have paid attention but my guess they are in bed with the elites anyways. So the winner gets to writeoff 99.9% of the price while obtaining the asset they can sell in the future for more $ to be taxed at the future sell price minus $5m, netting a windfall of ~$2.5m from the US taxpayer.
We pay a shitload of taxes a year, in the 7figs per year now, and this just pisses me off.
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Actually, if the winner got a tax deduction of $5.x mil - $52k and then sells watch for $5mil next month, he/she will have to pay taxes on $5mil-$52k since this is the value of capital gains. So don’t think your math is correct .
I don’t think there is any fraud here - winner just made a huge charitable donation and got a watch out of it - hopefully he/she wears it , displays it, or does whatever he/she decides will give them pleasure from it. It’s . Just. A. Watch.
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