Redneck

Is there a penalty for refusing to complete the survey?

Today is June 6, 2007, the 63rd anniversary of the D-Day invasion of Europe during WW II. I have not seen anyone on TV even mention it. How quickly we forget. I have seen too many talking heads extolling the reasons they, or the people they are shilling for, should be elected in an election to be held almost a year and a half from now. None (that I know of) have mentioned this anniversary either. By the time this election arrives I think we will be hoping for a "none of the above" candidate. Oh well, in the end we will probably get what we deserve.

Got 21 out of 25.

I have never had occasion to research this, but I have heard of many politicians, and probably political appointees as well, who placed their holdings into a "blind trust" while they were in office. Perhaps your client could also do this.

That's odd - I just went there and the board came up as usual. There was also still a bunch of spam on it.

Eli - here's a link to some pretty good reading material on this subject: http://fairmark.com/execcomp/nqo.htm

Sounds like he is selling inventory, in which case Form 6252 is not required. I think I'd set them up as "accounts receiveable" on the business books.

Should have said "received a step-up in basis AT time of death".

I can't remember the code section, but when I got involved with one of these, several years ago, it was considered an uncompleted gift and remained in the estate of the holder of the life estate, and received a step-up in basis and time of death of the life estate holder. If that is no longer the case, someone else will jump in and correct me.