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When a handgun falls off the DOJ Roster, and a shop moves it to the "Qualified LEO and Military Only" section of the display case, its potential buyer market is vastly restricted, and therefore its monetary value drops.
The DoJ has reduced the value of the shop's inventory. They're reaching in the front door and taking money out of the till.
Does the FFL's owner write off that reduction in value as a capital loss, with all the attendant accounting and tax implications?
The DoJ has reduced the value of the shop's inventory. They're reaching in the front door and taking money out of the till.
Does the FFL's owner write off that reduction in value as a capital loss, with all the attendant accounting and tax implications?
