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Author: Clyde62 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: Almost Free Home Question Date: 6/3/2001 4:40 PM
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What would the Federal Taxes be on a $ 200,000 home, won with a $ 10.00 raffle ticket, if all the material and labor on the house was contributed freely, at no cost ???
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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 51450 of 121219
Subject: Re: Almost Free Home Question Date: 6/3/2001 6:01 PM
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What would the Federal Taxes be on a $ 200,000 home, won with a $ 10.00 raffle ticket, if all the material and labor on the house was contributed freely, at no cost ???

Your income would be $199,990. How much tax this ended up costing you would depend on what else is on your return. It will be less than $199,990, so you'll be ahead. If this isn't a hypothetical question, congratulations.

Phil Marti

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