Thanks for the pictures with the post. I went to the link first to see if there were pics and was pissed there weren’t.
Wondering out loud: Does he have to claim the improvements on his taxes? /s
If he sold it, he would have to pay capital gains taxes on it based on whatever he paid for it. If he could document the improvements (obviously impossible), he could use them to offset his profit. If he received any insurance payment when it was stolen, he might have to pay that back.
His best option is to keep it until he dies. I certainly would! Whoever ends up with it would have its value at the time of his death as the cost basis.
Hey! I have a 57 Bel Air! Not in great condition, but working on it. I’ve seen some that are legitimately worth $150k, just to die for.
Depends on what NSA has on him.