Redneck

Having worked for the Census for a few years, I was also involved with the ACS survey, before I moved into a county with a lower population and was not needed. If you doubt the survey they should have an 800 number listed to contact regarding its authenticity. If you do not respond by mail within a specified time, they will come to your home for a personal interview, so you can either respond by mail or wait for the Census person to come to your home. All Census Representatives MUST have an ID, which they are required to show you when calling on you in your home.

These surveys are being conducted all the time, not just at the beginning of a new decade anymore. The information is used to track various trends and community information. Your response can be helpful to future planning for your community, and/or state.

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.

Have a client that buys houses, fixes them up and then sells them. many on installment sales where he holds the note. My question is is how is this reported from the Sch-C to the 6252? Or do I start with the 6252 then to Sch-C?

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.

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

PLEASE help - anyone familiar with life estates?

When a LE is created - is that considered the date sold, purchased and the basis as of that date or because there is no control until the party passes away, therefore it is inherited? Thx D

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.