Please don’t leave on a sour note, for what it’s worth I ultimately agree with you all. Sadly it just won’t do me, and many others, any good until they figure out their own **bleep** and stop charging people with capital gains taxes on money they never got. The court case you mentioned is a perfect example, except I could never afford representation in a case like that nor would I be able to represent myself. And without any CPA’s who agree, or closing agents, the situation is pretty bleak for all of us. My last hope really is that I get a consultation with a tax attorney, and then that tax attorney agrees with our position, and then can draft something to that effect that I can show a CPA so he is comfortable filing taxes properly. I expect however though that their ego’s will get in the way and they will just say they don’t want to deal with the trouble it will cause, and that it ultimately won’t be worth it for them to risk their liability over. I wish it was different, because believe me I would love to not pay capital gains on money I gift.
If it makes any difference to y’all I may even literally buy TurboTax for the sole purpose of talking to their CPA’s about the issue, and see if their answer is any different.
