Second Chance Offer And Tax Answer

I’ve relisted the tiny house on eBay… this time with no reserve.

It looks like in the 12 or so hours since I listed it, it already has 20 bids up to $1,575.

If you recall, there were a total of 23 bids last time around so this time will probably be better. It’s kinda nice to see the highlighted phrase, “Your item will sell.”

Check out the listing here:

In other news, I also spoke to a tax attorney this past week. The way it’s working for me is that I have two different things going on.

I have all the expenses associated with building and marketing the tiny house which are a business expense write off for 2010. And then I have the tiny house and any capital gains or losses once it’s sold.

Any supplies I actually used get rolled into the cost basis for the capital gains calculations. I could have also depreciated the trailer for the year but then that would have to be recaptured when it sold. I take that to mean it would have been a reduction in the cost basis and thus lower tax write off for this year.

If I were going to be building these on a regular basis the situation would probably be different. I know for example that you’d need an auto dealer’s license if you wanted to sell five or more in a year in Texas.

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