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Locked on 03/05/2005 12:05:45 PM PST by Jim Robinson, reason:
Continued on new thread: http://www.freerepublic.com/focus/f-chat/1356747/posts |
Posted on 01/27/2005 9:59:05 AM PST by ecurbh
New verse:
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Upon the hearth the fire is red, |
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Still round the corner there may wait |
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Home is behind, the world ahead, |
Next year won't be so hefty though.
still, its a good feeling.
Isn't there a requirement to reinvest proceeds? I forget the time period, but I thought the qualification was that it was a.) a residence (as you addressed) and b.) the proceeds roll into another residence of equal or greater value.
Or... I could be way off. I had the misfortune of taking Tax accounting in 1985... then the 86 code wiped it all out.
Nope, not if you meet the exclusion requirements I gave above. I think the reinvestment rules may come into play if the property you sell *isn't* your home, though.
You could be nice and bake some cookies and throw them in the garbage for the trashman next week.
Sweet...
...and the dead thread goes on....
Sorta...
My favorite scene...
ROFL!! I KNEW that would get someone's attention.
What the hell is that??? :-)
Yikes, I ddint know it would be so big...
hmmm
Oh well :D!
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