[Rev28K]

I thought part of the deal with having cars as an investment was that you “couldn’t derive enjoyment from it”?

i.e. You wouldn’t be allowed to drive it (other than for maintenance I guess warming up the engine, driveline and so forth), you couldn’t enter it in any events, etc.

Like if you buy a painting as and declare it as an investment. You aren’t meant to hang it in your office or at home, it’d be in a storage facility.

Anyone want to comment on this?

P.S. I know of guys that have got around this by using their cars as wedding cars. They earn a profit, the cars could depreciate (?), wear and tear items need to be replaced and it is in the business’ best interest to keep the cars schmick. That was a good scam.