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Author: brisav Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308360  
Subject: Re: Why, Grandma! What big debts you have! Date: 5/24/2001 3:40 PM
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Nix,
If your grandmother's total income (including the 1099 that she may receive if you settle on a smaller amount) is less than her standard deduction and personal exemptions, she will not owe any taxes.
Given the information that you have supplied regarding her income (small) I would venture to say that she would fall under the taxable income level and you would be safe.
I would run the numbers to make sure though.

Your friendly CPA
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