The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Credit where credit is due Date:  2/18/2001  2:44 AM
Author:  Bob78164 Number:  46679 of 127753

pmarti writes (in part):

Anyway, back to the point. I know Roy's swamped with the tax seminar now, but we're under no time gun here. As noted many places, you don't have to make the deemed sale election until you file your 2001 return.

I reply:

Yes and no. We don't have to make the election until filing the 2001 return next year. However, in order to make the election, we'll need to know how much our houses were worth on January 1, 2001. That'll be a lot harder to figure out next year, or even in a couple of months, than it is now. So I hope Roy springs with his response to these points of concern sooner rather than later. --Bob
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us