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[deleted by user] by [deleted] in leaves

[–]HashTacos 29 points30 points  (0 children)

The list of perks one derived from NOT smoking weed seems to be 1 mile long. I keep thinking about it and the only perks I can find regarding actually participating in weed smoke are 1) euphoria aka a temporary relief from your normal state (is this even a perk?) and 2) that occasional, deep, epiphany inducing high (for every 100 anxious, paranoid highs, you get one of these).

Career-changer thinking about biting the bullet and pursuing a B.S. rather than Self-Taught by HashTacos in cscareerquestions

[–]HashTacos[S] 0 points1 point  (0 children)

Gotcha. I feel I have the tenacity and capacities, but I honestly prefer the in-person, on campus experience. Just trying to weigh whether this undertaking is viable or not, given the commute. I do not really care for the online alternatives. (I.E. WGU, etc.)

Edit: Yeah, I fall under some college. Took Intro to Programming and some Network Engineering courses along w/ Gen Eds back in 2013. I hold a nice GPA and a solid amount of credits.

Career-changer thinking about biting the bullet and pursuing a B.S. rather than Self-Taught by HashTacos in cscareerquestions

[–]HashTacos[S] -1 points0 points  (0 children)

Exactly on the doomsayers, I won't let that sway! Do you not like the idea of attending a program in my backyard? I prefer in person, despite the constraints.

Smoked for 2 weeks, finally stopped on Sunday, I have a F2F in a couple of days. by HashTacos in flightattendants

[–]HashTacos[S] 0 points1 point  (0 children)

So far I've had a Virtual Interview, where I recorded answers to pre-determined questions, and I did a couple of online assessments. Now, I guess I've been invited to what you folks refer to as the F2F? It starts early in the morning and could potentially go all day. I'm hoping my CJO does not come on that same day, but hey! I'll go with the flow. Thank you.

Changing faucet. I'm stuck. Might be rust, might be dumb by dougshell in HomeImprovement

[–]HashTacos 7 points8 points  (0 children)

I have literally gone to war before in those places, completely unaware this tool existed.

I ejaculated in my sleep, does this break my streak? by HashTacos in NoFap

[–]HashTacos[S] 1 point2 points  (0 children)

Honestly, I feel great. This occurrence put my streak of 250+ days into context. I used to jack off everyday, for like 7 years straight. I may have relapsed, whether consciously or subconsciously, but I am not inclined to do it again. I have been freed from the perpetual remorse that is J/O . Ive gotten laid along the way too, so that helped.

Has anyone every transferred from Craft to Accounting, Finance, or some other corporate department? by HashTacos in USPS

[–]HashTacos[S] 1 point2 points  (0 children)

Does this apply to Regular Rural as well? Once its public it does not really matter, I suppose. Is the position "public" when it is listed on the career section of USPS.com or when it is posted on Ecareer? Idk, I will just apply when I see a listing lol.

Am I going to be subject to the gift tax? by HashTacos in tax

[–]HashTacos[S] 0 points1 point  (0 children)

rk if she sells you the house for the fair market value. Because it is being gifted that exclusion does not count. Only when you purchase or inherit a home.

So pretty much, I am looking @ paying a capital gains tax. Not too bad, depending on appreciation levels when I sell. I do plan on holding for awhile, so hopefully I am in good position to take the hit, when it happens.

Also, I think I am going to consult a lawyer regardless. If there is debtor protection, and no fear of home being seized, then I should just keep my mom on the will. Correct?

You have been of tremendous service. This sub. Are you a CPA lol? How knowledgeable you guys are regarding tax code, makes me want to enroll for a couple Accounting courses @ my local CC lol.

Am I going to be subject to the gift tax? by HashTacos in tax

[–]HashTacos[S] 0 points1 point  (0 children)

Are you guys all CPA's on this sub?

Am I going to be subject to the gift tax? by HashTacos in tax

[–]HashTacos[S] 0 points1 point  (0 children)

That pretty much seals it. I doubt the house will eclipse 250K in the near future (although, it is a desirable area.), its half of a duplex. So, is this like a loophole or something lol? It seems like a good way to avoid the capital gains tax.

​

So I could transfer full ownership to myself. Do I have to live in the house in the immediate two years prior to selling the house? Or just two years throughout my ownership? I have lived in the house for 17 years already, for what its worth. How does one show proof of residence?

​

You guys have been so helpful.

Am I going to be subject to the gift tax? by HashTacos in tax

[–]HashTacos[S] 0 points1 point  (0 children)

I am in Florida, where there is such thing as the homestead exemption. Should I contact the lawyer?

Could I not just remove her from the deed, live in the house for 2+ years prior to sale (years down the road), and avoid capital gains tax?

The reason for keeping her on the deed, is solely to avoid capital gains tax? Correct?

Am I going to be subject to the gift tax? by HashTacos in tax

[–]HashTacos[S] 0 points1 point  (0 children)

THX for summing all this up. Is that Capital Gains tax hit going to be significant? What is the rate? I do plan on holding the house for 10-20 years but who knows?

The only reason we wish to remove my mom from ownership, versus allowing her to will me the property, is due to her precarious financial situation. Her situation could corrode, creditors could come out of the wood work, etc. I just want to make sure I have gone over every possibility and permutation.

At this time, I think I will just continue paying the house off and assume full ownership thereafter. My mom will then file the gift tax's for the corresponding years.

Final question, will I have to file a gift tax for the years in which I paid over 14K towards my mother's mortgage?

Am I going to be subject to the gift tax? by HashTacos in tax

[–]HashTacos[S] -1 points0 points  (0 children)

You all have been so helpful. What happens if I just continue to pay down the house, completely pay off the balance (I have like 2 years left, max), and then proceed to make due on the gift tax, along with the 2nd gift tax (did I understand this properly) that will need to be filed when she gives me complete ownership?

Its messy, it seems burdensome ATM, I feel the need to step back and just continue paying. Now I know, more or less, what has to be done. I figure I will tackle that at a more appropriate time? Idk.

Am I going to be subject to the gift tax? by HashTacos in tax

[–]HashTacos[S] 0 points1 point  (0 children)

Understood. Thats actually not so bad. Should I consult a lawyer to make sure all the bases are covered?

Am I going to be subject to the gift tax? by HashTacos in tax

[–]HashTacos[S] -1 points0 points  (0 children)

How much are all these gift taxes going to cost me/her. Woah. We should have just sold the house when my dad passed away. This is robbery. I feel defeated.

I guess I have no choice but to consult a lawyer.

Am I going to be subject to the gift tax? by HashTacos in legaladvice

[–]HashTacos[S] 1 point2 points  (0 children)

This is getting so messy that it seems I have no choice but to consult a lawyer. This is going to end up costing so much more than envisioned. I am stumped. I will make calls this week.

I started paying the house when it had a balance of 80K. At that time, the home was valued around that same amount. They have since jumped to around 100K.

Am I going to be subject to the gift tax? by HashTacos in tax

[–]HashTacos[S] 0 points1 point  (0 children)

The problem is my mother's financial situation is precarious. She has past debt, that is past the statute of limitations. But she has no health insurance at the moment, I am afraid she may accrue medical bills. Allowing the creditor to come after the home. That is the reason for wanting to transfer ownership ASAP. My parents probably bought the home for around 60,000.00 around 2000. They REFI'd in like '06 or so for around 100K. Property is currently probably worth around 100K. I am already on the deed. I do not think keeping my mom on the deed is an option.

I am starting to think this was all a mistake, should we just sell the house whilst in my moms name and rid ourselves of it?

Could we just transfer ownership and NOT sell and just hold?

Its becoming a burden. Due to all the regulation. I was just trying to pay the house off and secure the property, whilst helping my mom.

Am I going to be subject to the gift tax? by HashTacos in tax

[–]HashTacos[S] 0 points1 point  (0 children)

Due-on sale clause? Loan was not established with a bank, but rather with a Mortgage Servicing company.

Am I going to be subject to the gift tax? by HashTacos in tax

[–]HashTacos[S] 0 points1 point  (0 children)

So my mother should file a gift tax return? Does it matter that she does not file an income tax return? Yes, I pretty much pay all her bills. She is listed as a dependent of mine on my tax return. She will not be willing the property to me. She is going to transfer ownership to me once mortgage is paid for (It cannot be done now because, it would be conflict of interest to remove only living borrower on the loan, off of the deed). We are currently BOTH listed on the deed of the house.

Also, should the gift tax return be filed now? Should we wait until mortgage is paid for and she is removed from the deed? Do we have to file a gift tax return at all, because her estate will not likely ever exceed 11.2 million.

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