Her tax return and financial statements should be interesting..she’ll want to claim the $$ as a long term capital gain...as opposed to ordinary income, whereas her CPA will want to invoke GAPP, treat it as a ‘One-time’ extraordinary item..and then use accelerated depreciation to negate the tax liability..
These people are demented. Which is worse? You can make an argument for either him/her, but I honestly don’t know which person is more disgraceful!
I hope the winning bidder is a repulsive, disgusting-looking old man with dragon breath...
Is there a depletion allowance?