Quote:
Originally Posted by fatlazyless
Is there a federal income tax expert on board here?
Maybe Big Island could be used for wild loon habitation and donated to www.loon.org, based in Moultonborough, and the island's entire $two-mil dollar cost basis could be deducted from personal federal taxes going forward for the next 17-years til it's all used up? Does not seem all that loonie? ...... :
With Big Island wired to Metrocast cable tv, the loons could spend hours and hours, all day and all night, watching the Laconia and Gilford local government meetings like the zoning board and the school board in action, live and the endless replays.
Save the loons and the heck with the local property tax.
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Even if donated the recipient will still have the property tax liability and it will be taxed on the new assessed value based on the transfer and taking into account the value placed by the owner donating and the amount being deducted on is tax return.
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