Join Date: Dec 2011
Location: So Cal
Thanked 13 Times in 13 Posts
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Re: Largest liveaboard *ever* sells for US .01
"The Feds" had plenty of return on Forrestal. It served the Navy for 35 years! As it is, it would cost more than it is worth for the Navy to scrap it or clean it up for use as a reef. I am sure they were happy to let somebody else take over the costs of towing, docking, and cutting her up. As taxpayers we should also be happy that we aren't footing the bill for the hundreds of thousands of man-days it will cost to cut her into razor blades.
If this vessel had been owned by a private sector business, used 100% for business purposes, and depreciated on the owner's yearly tax returns, and then sold, there would be recapture tax.
s/v My Sweet Girl!
Catalina 30 (Mark I)