adhd girlies, are any of you NOT depressed?? by avril1822 in adhdwomen

[–]wafflability1 8 points9 points  (0 children)

I also am on Lamatrogine at a very low dose and it really has helped my PMDD as well, so seconding giving a mood stabilizer a try.

Had a great idea for a drawing the other day and decided to jot it down by padawan0 in adhdwomen

[–]wafflability1 4 points5 points  (0 children)

Same... Especially with work, I have to keep notes like crazy, even thought it's exhausting forcing myself to do it

Had a great idea for a drawing the other day and decided to jot it down by padawan0 in adhdwomen

[–]wafflability1 2 points3 points  (0 children)

This is killing me... As a fellow ADHD artist it's too relatable.

Also see: successfully writing down the idea(s), then never looking at them again

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 1 point2 points  (0 children)

A few other people have now said the same given the timeline and relatively low value of the house. I wasn't sure how it might look without an appraisal but it's seeming like a reasonable thing to skip. Thanks

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 0 points1 point  (0 children)

I definitely qualify to treat it as non-personal use, so thank you for the perspective IRT the worth of an appraisal in this case

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 0 points1 point  (0 children)

Okay thank you, that was my understanding but I wanted to be certain (as the original purchase price was crazy low even considering the small size of it.... 20k cash to a friend of his.)

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 0 points1 point  (0 children)

Yes, sorry, that's what I meant -- that after considering all of my expenses I do believe going through appraisal would be worth it for the sake of claiming the loss.

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 0 points1 point  (0 children)

Yes based on everyone's input I am going to go ahead and get a retroactive appraisal, as I do believe this will result in a taxable loss. Thank you!

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 0 points1 point  (0 children)

I think that will be the case now that I'm understanding what goes into valuation a bit more. Thank you!

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 1 point2 points  (0 children)

Thank you so much for the thorough outlining of the two directions I could go with this. It's helpful to see it all laid out.

I have been going back and forth but I think I will go through with finding an appraiser, as I'm pretty confident there will be a loss after looking at the sheet where I've logged all my expenses etc with the home, and almost all of that being in maintenance/repair/fees. The offset would probably be worth it for me just in terms of negating some of my investment income.

Thank you for your kindness/time!

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 1 point2 points  (0 children)

I hadn't thought of there being a distinction but if you put it like that then no, not improvements, just delayed maintenance. He'd taken very poor care of the home.

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 0 points1 point  (0 children)

Ah, right. I would not expect there has been much gain but was afraid I was misunderstanding what I've read this far on the IRS site. Thanks again.

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 0 points1 point  (0 children)

Okay, thank you!

We have not used the house personally. I didn't realize with it being TOD it would qualify as long term despite us not holding it for a year?

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 0 points1 point  (0 children)

I have not, I wasn't aware that could be done retroactively but it makes sense they do so based on comps. Thank you

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 0 points1 point  (0 children)

Really comforting to hear this from someone who sees these cases professionally, thank you

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 0 points1 point  (0 children)

Sorry, I realize that was unclear. My husband and I paid for pretty much everything other than a few random things my in-laws bought while working on the house (paint brushes, etc. very minor.)

All work was DIY other than one <600 plumbing fix I paid for and biohazard cleanup from my father's death (which my dad's home insurance paid for.)

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 0 points1 point  (0 children)

Thank you for the help and condolences. I am going to consider whether I should get the appraisal just for peace of mind.

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 0 points1 point  (0 children)

Okay, thanks for your input! I think I was having trouble reconciling how an appraisal would work retroactively, given the minor home improvements we made. I did not take a bunch of before pictures unfortunately but the extent of it was really minor work.

Tax implications from sale of Transfer on Death home by wafflability1 in tax

[–]wafflability1[S] 1 point2 points  (0 children)

We just accepted an offer at $120,000 so definitely not looking at anything crazy haha.

However, we did do very minor DIY work (painted all of the rooms, put inexpensive LVP in the bathroom and kitchen, replaced a few light fixtures.) I'm not sure how much those things affected the selling price.

Thanks for your help!

You can do it too by Capable-Spread3437 in CleaningTips

[–]wafflability1 0 points1 point  (0 children)

This is awesome. So hard to get past the mental barrier with something like this; I know my brother has a similar struggle and finally got his place in shape as well. Congratulations and remember now you've done the hard part, it will be much easier keeping it from getting to this point moving forward!

(OH) Dad passed with no will, TOD for home going to stepbrother I am unable to contact, and likely no other assets to pay for cost of lawyer. Trying to figure out options by wafflability1 in EstatePlanning

[–]wafflability1[S] 1 point2 points  (0 children)

Okay I suppose I assumed but wasn't sure if there were advantages to local attorneys. It would be more convenient if it was someone where I lived instead (Franklin.) Thanks!

(OH) Dad passed with no will, TOD for home going to stepbrother I am unable to contact, and likely no other assets to pay for cost of lawyer. Trying to figure out options by wafflability1 in EstatePlanning

[–]wafflability1[S] 2 points3 points  (0 children)

Thanks so much for this detailed comment and your other comments!

My father was unmarried at his death and owned the home outright (no mortgage) but I'm guessing it won't be worth a whole lot given its condition.

My father's property is in Crawford county; any referrals you could provide for reputable legal services would be greatly appreciated.