Tax Free Exclusion on Sale of Personal Residence Reduced

[Lion]

You will not...

You will not run and will not serve if elected, is that it? Of course, Joan would have to appoint you since I don't think czars rule democracies. There's still a VP opening before the conventions...

[RLymanC]

Sec 121 Auditor turned good

First I appreciate all the above...thanks, it's exactly what I was looking for.

Auditor!!!!!.......I've had more than one client that writes his self emplyment income down to almost zip. All legal expenses, HOWEVER, now he want's to buy a house..HA HA

The following year he does not want to claim 75% of his expenses for the above reason, now I have a problem, (not really) the lack of expenses greatly increases his EIC. Say's me,,that's fraud, you must claim all deductable expenses, you can't manipulate EIC that way. Are we having fun yet.......:>)

[AuditorTurnedGood]

having fun?

I looked at my wife and said "well honey, it's mortgage fraud, and risk the practice, or tax fraud, leading to morgage fraud, risking jail and the loss of the practice." It really is a quite untenable situation.