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What ever your Fed, state and local tax codes are is just Boilerplate..that a good CPA can help you figure out.

the question becomes what do you do with the proceeds? That is the 64,000 $ question. If you are a believe in the "conventional wisdom of the PAST...you had an array of investment choices...RE, Bond Equities, CD's or just plain ole Cash. You could go a bit more nontraditional with precious metal commodities like Gold and Silver which do not produce cash flow. Then there is the Store House Of Value route..HARD ASSETS..Cars, Art, Coins Stamps High End watches and or Spoons etc.

One thing is very certain is that NO ASSET CLASS Is NOT fraught with EXTREME RISK. EVERYTHING is a gamble...Civilization is in a TRANSITORY era... the conventional wisdom of yesterday may not hold any water at all anymore... Take a look at Equities today, they are trading at a historic high of 125% of GDP...RE both Residential and Commercial is sitting on the precipice of of a tsunami of mortgage defaults. 30% of Renters THIS MONTH are having difficulty in making the rent. Bonds are headed towards a NEGATIVE INTEREST RATE. The FED ihas electronically printed almost 2T USD's in the past month and a half..and is headed towards putting another 4 T on the books for a total north of 10T.

Those are the FACTS...The Game has changed, it isn't about getting rich anymore...or doing well...IT IS ABOUT SURVIVAL..You BOyz had better get your heads around that FACT.

The Global Economy of Scale based upon continual conspicuous consumption is now KAPUTT..people are worried about eating and keeping a roof over their heads.. those basic needs are at risk how...check out the length of the Food Lines. Reality has suddenly hit the herd in the face and spooked it...

If you go a Precious metal route, make sure you have the asset in your hands..a proxy piece of paper will not do...

Just look at the bright side you will not have to worry about Global Warming anymore...