Quote:
Originally Posted by birdman42
Leon's way of dividing price by # of pieces will work in a general sense, but if, say, you bought a 520 set of T206 for $26,000, it wouldn't make sense (or be supportable if it came to that) to value the Cobbs and the Schaefers all at $50 each.
Bill
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Bill- great stuff and thanks for posting. So I have a question as a layperson. As I said before, I have a CPA and another (EA) accountant who do my taxes and books so I won't personally make mistakes (and they are pretty good and don't make many). But if I buy a near set of 520 T206s, and ascribe my cost basis of $50 for each one, and add or subtract the sale price of each one, why wouldn't that work?