But the IRS has issued private letter rulings which clearly state that: (a) the ‘carrying value’ of any structure fabricated with Carolina blue cardboard is ZERO; (b) any markup from that value for write-off purposes will be deemed fraudulently intentional.
Actually, yes. And the LP (it has to be LP: an EP / 45 might be hard to extract ) need not be turned over. The brand, remember: Butt Sounding Raunchy, from the ‘sixties’? Don’t laugh, this is the progenitor of the slot-loading CD player … which early on did sound like arse …
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