stevei35

Value of PCA 1973 t auction car
Anybody have an idea of what the PCA 1973 911t auction car is worth? After the car was rebuilt by the Porsche Factory. Just wondering what the value would be.....

Steve Weiner-Rennsport Systems

$100K+

Ed Hughes

Can't fault that number...

whalebird

$50...thats what I'm paying for it. Or is it $100...Haven't sent my entry in yet.

f4 plt

ah, but if you win it, you also owe the IRS gift taxes for the market value .... and they want their money and will establish the price. That said, I need to get my money in. Foolishly sold my '72 "T" in '75 Bad BAD decision.

911Dave

I don't think the IRS can arbitrarily determine the "price". They aren't classic car experts and there is virtually no established market for a car like this. The only way to really know would be to sell it, probably at auction.

The raffle rules state that the IRS will require 25% withholding on the prizes, with PCA handling the collection and remittance of taxes for the winner. For sure, the taxable value will be determined by someone but I can't believe it will be the IRS. State tax will also be owed, unless you live in a state that has no income tax.

BTW, the grand prize also includes $10k in cash along with the car. That should help take some of the sting out of the tax liability.

Ed Hughes

I got my postcard today...just glanced at it, but didn't I see a $25K cash alternate? I'd be happy to pay tax on that amount for this. Factory warranty too!

I'm sure the $10K is there to help with taxes. A lot of raffles do this now.