ah ah ah!
This is a tax CREDIT, not a tax DEDUCTION.
Your calculations are for a tax deduction.
If it’s a tax CREDIT, it’s as good as a check from the IRS. A credit means they... well, credit your account with the $2k as taxes already paid.
Holy smokes....gonna pull out my 80% AR alum. blocks and drill them out if this bill passes.
Then I’m going back into my cut up receiver piles and reweld them after paying ATF $200 transfer tax for a post 86 gun and turn them in and make $1800.00
I like this bill already!
Agreed. My bad. See my other apologetic comment.
Great arbitrage opportunity—buy at, say, $700 or less for a low grade “assault” weapon, sell for $2000.