Subj : Conference Hosts
To   : Daryl Stout
From : Barry Martin
Date : Wed Jan 04 2023 08:06:00


Hi Daryl!

 DS>   Plus extra zero's on your salary sheet. <G>
 BM> Too bad they're on the left!
 DS>   That way, you don't have to pay taxes on it...but I'm sure
 DS> the government will find a way to collect. Besides, The IRS
 DS> is actually THEIRS!!

Perhaps they'll take the outer casing to the zero and so you'll be left
with less mpthing.


 DS>   I'm concerned that I'm going to have to pay a capital gains
 DS> tax on selling my car last June, due to medical/vision issues
 DS> that made me give up driving. I had great difficulty driving
 DS> at night with haloes around any kind of light (streetlight,
 DS> vehicle light, etc.)...and my vision would blur on me without
 DS> warning during the day...making it too dangerous to drive.

Might be worth an appointment with a tax preparer.  Not necessarily H&R 
Block, Jackson-Hewitt and the like, but probably more the local groups 
who have some training and do taxes for seniors, generally for free or
very low cost.

I'd also would prepare a list of potential deductions to offset any 
capital gains tax you may need to pay -- at least you'd be paying less.

And 'incone averaging' might be another way to reduce/eliminate.



 DS>   The thing is, what I paid for the car originally (it was a
 DS> 2013 Chevy Cruze), and what I got when I sold it back to the
 DS> dealership was $4400 less than what I paid for it...so, to me,
 DS> that means I took a LOSS. The money went to pay for outpatient
 DS> heart surgery, transportation via Lyft, medications, groceries,
 DS> and other medical bills.

Though when you purchased from the dealership they reported the sale as a
gain and paid taxes.  Then when re-purchased they would probably be
reporting that as a loss So would average out in the eyes of the IRS.

 
                         ¯    BarryMartin3@    ®
                         ¯   @MyMetronet.NET   ®

.... Reminder: my track record for getting through bad days is 100 percent.
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