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Losing money
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Badger
Posted 9/28/2020 09:07 (#8519284 - in reply to #8519175)
Subject: RE: Losing money


Huntley Montana

That is the "loophole" ..  But if you have 40-50 houses being built it would be easy to hid a lot of the "labor" expense in the other houses & just show the materials as your "basis" in the house you lived in the last 2 years, because you "built it in your spare time".   Or Just build a house every 2 years by your self & be able to get $500000  every 2 years tax free income.   Or you just have a "live in" & you do a House a year & show that it was the primary for 1 of you for 2 years & get $250000 tax free every year with a partner.    
 But  Trumps Taxes are so complex that VERY Few people will EVER understand them.   I would not want every one who thinks they are a "expert" looking at my taxes,  I'm sure that 99% of the Experts would find something wrong.  A Lot depends on if your Accountant's view of who he is working for

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