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To: newzjunkey
He had no ethical obligation to give it up. However, it would be classified "undeniable ascension to wealth" and taxable, usually as income. I wonder if, in our screwed up America, he'd still be on the hook for those taxes!

If he'd kept it, I don't see how that would be taxable income. He didn't earn it. He bought the money when he bought the house. Same as if any other aspect of the house turned out to be underpriced or unexpectedly valuable.

41 posted on 05/20/2011 8:44:44 PM PDT by cynwoody
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To: cynwoody
Same as if any other aspect of the house turned out to be underpriced or unexpectedly valuable.

Cash, generally, isn't unexpectedly valuable.

46 posted on 05/20/2011 8:58:40 PM PDT by Trailerpark Badass (I'm sick of damn idiots)
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