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Day Co. SD | When my dad took over from my grandfather, my dad would pay him whatever amount the gap was between his actual income and the income limits. My dad got to pay as he went and my grandfather incurred no additional tax because he was claiming very low income. They made a list of what stuff was worth the day my dad took over, and slowly year by year kept scratching stuff off the list. In reality this only worked because my grandfather had extremely low living expenses and didn’t need much money. | |
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Recaptured Depreciation
