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To: RebelTXRose
True, but on principle I am opposed to any measure that taxes the same income twice. In theory, you can be subject to a tax rate in excess of 100%.

The easiest way to get around these stupid tax provisions is to buy a relative's house in the same state and sell your home to that same relative. Pay rent to each other through LLCs that you establish for each property. You will be able to deduct all of your property taxes and maintenance costs, along with depreciation on the property as well.

I wouldn't be surprised if CPAs for wealthy homeowners in some of these high-tax states are cooking up schemes like this already.

22 posted on 12/24/2017 5:35:59 AM PST by Alberta's Child ("Tell them to stand!" -- President Trump, 9/23/2017)
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To: Alberta's Child

That specific situation is barred.


45 posted on 12/24/2017 6:19:42 AM PST by Raycpa
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