Too Responsible, Early Enough ... Ask TaxMama ... January 30, 2004

Ask TaxMama.Com
Tax Information With A Mother's Touch

Published by Eva Rosenberg, MBA, EA
Volume 6, Issue 244 January 30, 2004


	Cyber Alerts
	January's CBS Marketwatch Articles
	HSAs - Get One of Your Own
	$300 M for Prisoner Release Programs
	Too Responsible, Early Enough
	EIC For Me?
	Business Tax Laws


	More Cars Certified for Clean-Burning Fuel Deduction


	Super Bowl Trivia

E-Mail
This Page To A Friend

Your email:

Your name:

TO email:

Too Responsible, Early Enough

Last week, we were frustrated about not being able to offer Joe a better tax option.

» <But a Tax Pro steps in>

Dear TaxMama:

The query included: Shortly after my mother-in-law's death,

You forgot something, Eva (I'm shocked--but, then, you've been out of practice for the last few months between seasons): the stepped-up basis dad-in-law gets when his wife died. It may be half, or it may be 100%.

Either way, barring a lawyer telling the questioner that dad can claim it's still his, the situation is far less grave than it could have been.

Doug Thorburn, EA, CFP,
Author, Drug Addiction Recognition Expert
New! "How to Spot Hidden Alcoholics: Using Behavioral
Clues to Recognize Addiction in its Early Stages" along
with the classic "Drunks, Drugs & Debits" and "Get Out of
the Way!" are available by calling 1-800-482-9424 or
visiting www.GaltPublishing.com

Thanks Doug!

OH, MOM's Stepped up basis.

Of course,

YES. I didn't even think of that. I skimmed over that part of the information and didn't notice that Mom had died recently. (See, that's the kind of thing we miss on exams when we read too quickly.)

Excellent.

That will help.

(Out of practice???? For a week, maybe!)

Best wishes,

Eva Rosenberg
Your TaxMama

TaxMama's
Other Sites
TaxMama's Secrets
The Help Desk
PhotoMasterpieces
I-Laugh

Site design by Serenata Design.