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Reply #8: Did you read the whole article? [View All]

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proud2BlibKansan Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-10-07 07:36 AM
Response to Reply #6
8. Did you read the whole article?
They don't have the income to support themselves and live in this house.
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  -Taxes, debt shadow Extreme Home Makeover family proud2Blib  Apr-09-07 07:52 PM   #0 
  - I think this family is getting greedy  IsisDawn   Apr-09-07 08:11 PM   #1 
  - the house is probably considered as a gift so inder the irs rules it's taxable income.  chimpsrsmarter   Apr-09-07 08:11 PM   #2 
  - If it were considered a gift, they would not be subject to tax  DianeG5385   Apr-09-07 08:31 PM   #3 
     - You can only be gifted 12,000 per year  Marrah_G   Apr-09-07 08:58 PM   #5 
     - Gifts are taxable to the gifter, not the giftee****  Egalitariat   Apr-09-07 09:31 PM   #7 
     - I think in this case it is considered contest winnings not a gift  bleedingheart   Apr-10-07 07:58 AM   #11 
        - They are not contest winnings or gifts, EHM rents the house for the week and  riderinthestorm   Apr-10-07 10:46 AM   #20 
           - They were poor or disadvantaged to begin with...that is why this show exists  bleedingheart   Apr-10-07 12:49 PM   #22 
              - EHM is being challenged in tax court as we speak about the "loophole" by the IRS  riderinthestorm   Apr-10-07 10:48 PM   #26 
                 - okay I bet this is how the loophole gets exploited...  bleedingheart   Apr-11-07 04:46 PM   #28 
  - This family is in over their heads  proud2Blib   Apr-09-07 08:50 PM   #4 
  - They have 26k left over after paying for everything  IsisDawn   Apr-09-07 09:27 PM   #6 
     - Did you read the whole article?  proud2Blib   Apr-10-07 07:36 AM   #8 
        - They don't have the income to live in a 120,000 dollar home.  trumad   Apr-10-07 07:41 AM   #9 
           - It wasn't a $200,000 home then  proud2Blib   Apr-10-07 08:41 AM   #13 
  - Yup, they are getting greedy.  riderinthestorm   Apr-10-07 10:49 AM   #21 
  - The people that produce the show just screwed these folks over  bleedingheart   Apr-10-07 07:53 AM   #10 
  - Yes you get it  proud2Blib   Apr-10-07 08:42 AM   #14 
  - If ABC wanted to do this right...  bleedingheart   Apr-10-07 10:32 AM   #18 
  - EHM "rents" their old house for the week of "renovation" and under the tax laws any improvements  riderinthestorm   Apr-10-07 10:42 AM   #19 
  - And clearly EHM isn't that dumb. They HAVE checked the tax laws  riderinthestorm   Apr-10-07 11:35 PM   #27 
  - I've often wondered about this when watching the show.  knitter4democracy   Apr-10-07 08:12 AM   #12 
  - this happened when Oprah gave away those cars to the folks on her show  bleedingheart   Apr-10-07 09:06 AM   #15 
     - A co-worker of mine won the house on HGTV  proud2Blib   Apr-10-07 10:24 AM   #16 
     - she was better off selling it and getting some cash out of the deal  bleedingheart   Apr-10-07 10:29 AM   #17 
     - I agree.  knitter4democracy   Apr-10-07 01:15 PM   #23 
        - That's a great idea  proud2Blib   Apr-10-07 08:00 PM   #25 
  - The show should pay all their past bills and future taxes on their new home.  in_cog_ni_to   Apr-10-07 01:36 PM   #24 

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