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Catherine

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    http://www.grant-financial.com & www.constitutiondecoded.com
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  • State
    MA
  • Gender
    Female
  • Interests
    competitive target shooting, fiddle playing (Scottish style), dancing, gardening, reading

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  1. Some of my favorite people, yeah - not. They were probably thinking about the CO capital gains exclusion for farmland bought before 2009 - but that's (a) only CO, and (b) only for those filing Schedule F with their 1040.
  2. Client sold property in Colorado, part of an association. He tells me that the HOA dues and assessments for the entire time he owned the place are additions to his basis, and that the CO realtor told him this is what is done in CO. Sounds suspicious, at best, to me. I can see assessments being added to basis (association roads, roofs, etc), but not standard HOA fees for mowing and plowing and general maintenance. Can't find anything in Colorado rules about this. Anyone here have advice?
  3. eBay is sending out gazillions of 1099s - as long as the total went above $600, you got one. Heck, my husband got one for selling a couple of used tools that he upgraded. No gain; he sold them for no more than cost + shipping fee. Often less than his cost, as they were older (but not antique/collectible/worth a premium). He is decidedly un-amused that he now has to dig out all the details for me.
  4. Panels are next to the house, connected to the house, for the house. Lots of reasons - including structural and where the trees are - influence the location of the panels. I would not hesitate.
  5. First question I have is how much money are you talking about? A couple thousand bucks of ladders and drop cloths and stirring blades? Or tens of thousands including scaffolding and compressors and sprayers? If the latter, and they honestly don't have invoices, send them to get you (1) a detailed & annotated list including item, who purchased from, for how much and when, and then (2) prices for new same-type items from Lowes or Harbor Freight or specialty suppliers, showing prices. If comparing those two shows a reasonable price paid for used - as opposed to new - equipment, then I would accept it. After reading them the riot act (in print - and get them to sign & date that, give them a copy and you keep the original) that they are never, ever, to buy substantial equipment again without at least a sales receipt showing date, amount, what, and from whom purchased. If the former, I'd still do the letter riot act, and have them bring price sheets for similar ladders etc., but not necessarily require as strict an itemized list. If that means they go on extension while they dredge this all up, that is not your problem, but theirs. Of course, if you think they're cheating, or that they stole the equipment, hand 'em back their docs and wave bye-bye.
  6. Only until the notices come in!
  7. My daughter gave me a placard for my desk that reads, "I can explain it to you, but I cannot understand it for you."
  8. I wouldn't post the links, just the text.
  9. Anyone else get the promotional email this morning from Kiplinger and Tax Tips, offering an "investment opportunity" in bourbon with something called Cask X? It was cleverly done - but in the thick of the season, I'm more interested in drinking it than investing in it. I did get a kick out of it, and would post the entire "opportunity" here if anyone else wants a chuckle from it but did not get it.
  10. Carry-forward capital losses will offset this amount almost completely, possibly completely-completely.
  11. Detail pages for dividends - the crucial bits, that show the foreign amount (for foreign tax credit), the federal percentage of dividends, the state breakdowns for tax-exempt interest or dividends, etc. No, I don't need or want the "preliminary" or "summary" statement that's 6 pages. I want the 28-page extravaganza that looks like boilerplate mixed with gobbledygook to the client. And the 5498s. Not exactly a form, but the bursar's office printout for all college costs.
  12. But there is no indication of what stock it was. Just, "stock."
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