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Moon Phase

April 2018
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Bruce [userpic]

Back up and awake(ish) am I. Though that may have something to do with the temperature - when you have three computers in one room, for some reason warm spring days turn into 90° inside sweatfests.

Just before leaving the dome last night, my parents had to go on some vague thing about people with foreclosures being subject to huge tax penalties. Given that I've been working at lowering my anxiety level so I can focus on the job at hand, this was not particularly helpful.

So while I've been awake for a bit today (and was for a few hours around 5:00am, as well), the one thing I've been able to manage so far, after much internal wrestling, was:

Writing "2007 Taxes" on the outside of a manila envelope.

Go me.

Current Location: The Duplex
Mood: anxiousanxious

I think it's actually 90 outside...so "warm spring day" is a really bad understatement. LOL.

My place is up by the SJ airport, which appears to be one of the coolest parts of the south bay. It's 88° in my room right now, but that's largely because I had the door closed while I did some more sleeping. With the fan going, it should cool down considerably...

All that said, yeah, you're right. It's freakin' hot.

I don't think it is a penalty per se (but you may feel differently) Loan principle forgiven or your benefit from a short sale is considered earned income, not capital gain. I imagine your tax bracket is low since you are offshoring the exorbitant wealth earned from KJing at KoC?

You're technically correct, though I tend to consider a tax on something that was forced on one somewhat of a penalty - and for some reason I differentiate between the term "tax penalty" and 'penalty." Go figure.

I was sorta hoping I could consider the whole home loss thing as, y'know, a capital loss. But then I won't know until I do the freakin' taxes, eh?

My tax bracket is remarkably high for last year, actually. I did three rather large IRA withdrawals, and also got about $9k in unexpected payouts.

Wonder what the weather in Rio is like this time of year?

I have nothing useful to add, since I actually still file on EZ. Ah, the joys of being a wage-slave!

Eh - none of this is all that difficult, just time-consuming. The main thing is getting over my attempts to hide from it.

Don't you have mortgage payments on the mobile home? I know they don't tend to be large, but I'd think they'd be enough to make it worthwhile to fill out a schedule A.

Well, sort of. My dad paid cash, and I pay him $100 a month. The land rent isn't deductible.

Yeah, I see what you mean. You and he could set it up as a mortgage arrangement, but then he'd have to fiddle quite a bit with his taxes.

Besides, at your income, $1,200 a year, even if pure interest, probably doesn't trump the standard deduction.

Cool! Less complicated taxes are a good thing. :-)