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Kurt Ullman Kurt Ullman is offline
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Default This Old [millionaires] House

In article ,
"JoeSpareBedroom" wrote:

And of course they have to pay income taxes on the value of the new

Property tax.

Income, too. Improvements you don't pay for (or are paid by others)
are income for tax purposes. Had a situation a couple years where the
IRS came after the owners of one of the "Show Houses" for the local
hospital. Said the improvements were income and they had to pay taxes on
it pronto, Tonto.