yes, one depreciates a sports teams asset, but it will eventually depreciate to zero. then when you sell it, 100% will be capital gain (still less than income

yes, one depreciates a sports teams asset, but it will eventually depreciate to zero. then when you sell it, 100% will be capital gain (still less than income tax, but a bit closer, especially on these high wealth individuals). the bigger deal would be the fact that if held to death (much like with other assets) the cost basis resets to. so what was once depreciated to 0% of value, is now cost basis as value at time of inheritance. I'm sort of leaning towards the belief that the reset of the cost basis should perhaps be limited to normal tax free estate limits, and anything above that, does not get reset.