Brent, we-who-fly-under-the-taxation-radar
don't have to worry about the net-effects of the B-J, or any other
organized auto auction/sales
venue, as the selling price IS reported to the IRS, as representing
Ordinary Income, to the seller (and the buyer gets a tax-basis-receipt,
for later capital gains taxation.)
I know several people who 'could' sell their cars @ auction, but won't
do that, to avoid the paper-trail, on the transaction.
"Duplicate" (one, for taxation/registration, and one for INSURANCE,
purposes) is quite illegal, but , almost, an accepted-practice in the
shade-tree sales community.
Due in part to the above, some states "want" to
use Blue-Book valuations, to avoid the effects of the Underground
Economy.
Neil Vedder
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