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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: SmoothSail who wrote (353962)	3/17/2010 5:11:27 PM
From: Alan Smithee	Read Replies (1) \| Respond to of 794387

If she didn't go out and buy another house, she's also going to have capital gains. Depends. As a single person she can exclude the first $250,000 of gain on the sale.

To: SmoothSail who wrote (353962)	3/17/2010 6:00:32 PM
From: LindyBill	1 Recommendation Read Replies (1) \| Respond to of 794387

If she didn't go out and buy another house, she's also going to have capital gains. That was the problem. My daughter's husband acted as her broker and they KNEW she didn't file. She just refused to face up to it. That was part of her mental problem. So now she has capital gains plus penalties plus I am sure she pulled from the 80% of my 401K I gave her without paying any taxes on it. I don't want to be anywhere near what they are going to do to her.