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Dutchbj

04/13/07 1:49 PM

#141312 RE: knute97 #141311

to further define..you paid taxes on the profit or loss, as the case may be, on the amount transferred..correct?
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Dutchbj

04/13/07 2:03 PM

#141315 RE: knute97 #141311

Knute..After thinking this thru, I realized my previous Question was 'offbase'..as we have to pay personal income taxes on the transfer, after age 70...Then, when we hit it Big', and Wave is $40-$50, then we'll only have to pay the capital gain tax, which is a definite advantage..thanks for sharing the info..and now will conclude this O/T subject...Dutch'B