It’s a reasonable rate. I’m not sure if I could be well organized enough to ensure that I paid taxes on everything like that. But it does stretch her credibility to say she didn’t realize she didn’t pay taxes on a little thing like a plane.
When we lived in Minnesota, I wanted to join (become a partner) in a four person airplane ownership club. The downstroke was substantial and being the fourth man in, my air time would be Tuesdays and Wednesdays. But the main attraction was the opportunity to learn to fly and to get some hours. At about the same time, we decided to sell our house and build a new place on the lake in Prior Lake (south Twin Cities metro.)
We couldn’t quite swing both. My wife put it, “the house or the airplane; which is it ?”
Not learning to fly or owning a piece of the airplane is one of my disappointments, especially since my dad was a flyer in the 1930s and 40s, lastly in the China-Burma-India Campaign.