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Financial Planning / Tax Strategies


Subject:  Re: Form 4562 Date:  7/7/2005  6:12 PM
Author:  JAFO31 Number:  79924 of 132973


JAFO: <<<<On what basis? 15% for land seems low to me for an older house.>>>>

"15% comes from the tax book I thumbed through at Borders."

And its advice is worth what you paid for the tax book while you "thumbed through [it] at Borders."

I seriously doubt that a tax auditor would accept your response as evidence of a reasonable allocation (especially if the tax assessor's records differ).

Regards, JAFO

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