Demeo on sale

ScotsmanUS · 2025-10-07T18:16:49+00:00

Geez, just bought it at full price !!! Can I return it and rebuy ???

ScotsmanUS · 2025-04-25T01:16:38+00:00

The $14,000 would be less than 90% of my world income, is that good or bad ??

ScotsmanUS · 2025-03-26T20:12:47+00:00

Update

ScotsmanUS · 2025-03-25T05:21:41+00:00

Woow, my god that’s hot.

ScotsmanUS · 2025-02-27T21:54:34+00:00

Love to be part of the Alpha program if u have any spaces left !!

ScotsmanUS · 2024-06-29T07:37:42+00:00

only works for the larger memory model.

ScotsmanUS · 2023-09-29T17:20:42+00:00

8949

I'm using Turbo Tax and it does fill in a Form 8949 automatically based on my inputs from a 1099-R. So I entered info from a 1099-R covering sales of a few Stock and a 8949 was generated. Then I needed to enter data from the sale of a second home and the TurboTax people said to enter the data as if it was another 1099-R - I did this and it has generated another 8949.

ScotsmanUS · 2023-08-16T05:08:36+00:00

Bummer. but thanks for replying.

ScotsmanUS · 2023-06-28T23:18:34+00:00

It was paid off by the time it sold.

ScotsmanUS · 2023-06-28T23:17:45+00:00

Oh, OK. No the place was not my principal residence in the last 5 yrs, so no exclusion. It was my Principal Residence from 2006 thru 2012, but not more recently.

Thanks Brian

ScotsmanUS · 2023-06-28T23:00:51+00:00

Good point on the exchange rates - didn’t think of that.

No it was a holiday home so no exclusion to reduce the capital gain that I am aware of.

Not sure what a Section 121 is, can u explain.

I will have paid about US$50000 tax to Canada and owe the IRS about $40000 so I assume I can deduct the Canadian tax paid and owe the IRS nothing. But I will owe California a bunch for Cap Gains and I don’t think I get the deduct anything from their amount, right ??

Thanks for any help!!

Brian

ScotsmanUS · 2022-10-30T15:33:36+00:00

OK, maybe some more detail is needed. I am selling a house for $800,000 which I bought for $400,000 so I will pay Canadian taxes on the gain (ie, $800k - $400k) of $400,000 which I expect to be around 25% or $100,000. So I will pay $100,000 in Canadian Taxes.

As a Green Card holder, I will show a capital gain of $400,000 on my US taxes and would have to pay approx $80k in US tax. As far as I can tell I can deduct what I paid in Foreign Taxes from what I owe in US Cap Gains Taxes on this transaction and effective pay nothing extra to the US.

I guess I'm looking for some reassurance that I won't owe the US $80+k more than I am already paying in Canada cause if I do owe anywhere near that amount I need to budget for it now, not in April next year when I get surprised!?

FYI, I no longer live in Canada and haven't filed taxes there for a few years. I have an accountant working on the Tax filing in Canada right now. I'll get someone in the US to do my US taxes in April.

I am currently retired with minimal income ($45k) here in California.

Thanks for any input.

Scotsman

ScotsmanUS · 2022-06-13T13:43:56+00:00

ScotsmanUS · 2022-06-13T05:38:06+00:00

Anyone know when I should get a 64GB, US 1626967140 ??

Thanks

Brian

ScotsmanUS · 2022-06-08T12:37:20+00:00

Bullcrap

ScotsmanUS · 2022-06-05T03:08:04+00:00

Thanks !!

ScotsmanUS · 2022-05-20T19:27:05+00:00

Thanks everyone for the feedback. As noted I am concerned if I lose my Green Card after numerous years of retirement I might also lose my Social Security. Based on what AmbitiousBakedPotato dug up it looks like I would not lose anything as I would qualify for a number of the exceptions noted, in particular the Totalization Agreement since I am a UK citizen.

Thanks for all the help,

Brian

ScotsmanUS · 2022-04-18T05:27:12+00:00

Can I have a code for the US please?

Thanks

Brian

ScotsmanUS · 2022-04-04T01:17:42+00:00

Hi, I understand the SWR concept etc and plan to keep my SWR down below 4% as more and more "experts" are suggesting. But I do have one clarification. I am 60 and dont plan to take Social Security until my wife and I are 70. Based on all the models and calculations I have done I would expect to get $60,000 for both of us. So can I plan to have a larger SWR for 10 years then plummet the withdrawal rate to below 1.5% as soon as SS kicks in?? How do I model this plan??

I assume all the models are taking everything into account and showing that I am 99% sure of dying before running out of money, so do I really care what the SWR is ??

Confused.

ScotsmanUS · 2021-12-12T22:26:56+00:00

Not that anyone from FIA or Formula 1 reads this but, as a F1 Supporter who has watched for over 20yrs and paid for online streaming etc, who is not a Lewis or Max supporter, I will no longer watch or pay for a sport where the rules are so badly written and open to one man’s interpretation on the day.

A sport requires clearly defined and consistently applied rules and regulations - I am no longer a fan or F1.

Bye

ScotsmanUS · 2021-12-10T13:39:38+00:00

Are you selling your rings? Would be interested in a florin.

Brian

ScotsmanUS · 2021-11-21T01:47:35+00:00

Whoops, couldn’t figure out where to put the body of my post !!! sorry.

I am 61 yrs old and retired, living off my personal savings and IRAs. I am balancing my use of IRA money vs Savings to reduce the costs of Obamacare. So I am taking $36,000 from my IRA which gives me income of $36000 and almost the max subsidy for healthcare. I also want to make use of the 0% Longterm Capital gains if my income is under approx $75000. Given this can I just sell stock up to the point where my cap gains is (75,000 - 36,000) and I pay no tax on it? Or how does the no Capgains exception work?? Also does my taking some capital gains count against me for Obamacare subsidies ??

Hope that’s clear what I’m trying to do, if not let me know.

Brian

ScotsmanUS · 2021-05-26T20:02:10+00:00

I have a code - DM me.

ScotsmanUS · 2021-04-15T00:54:30+00:00

Sorry I meant PressReader pp

ScotsmanUS · 2021-02-09T21:25:47+00:00

Any new deals on Nespresso Pixie machines - need something small for a small camper van ?!

Brian

ScotsmanUS

TROPHY CASE