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Registered
Join Date: Mar 2003
Location: Charlottesville Va
Posts: 6,048
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Quote:
Originally Posted by PorscheGAL
Not considered income. Your ownership time excludes it as income.
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Huh? No offense, but its a capital asset and any gains are capital gains. Yes, if you have records you can offset expenses, but you can't just ignore it.
Splitting deposits to avoid reporting is actually a federal crime. Not that anyone is going to get prosecuted for splitting a 15k but still...
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Greg Lepore
85 Targa
05 Ducati 749s (wrecked, stupidly)
2000 K1200rs (gone, due to above)
05 ST3s (unfinished business)
Last edited by greglepore; 11-15-2018 at 06:22 AM..
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