You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #21: Yup, they are getting greedy. [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread		 This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
riderinthestorm Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-10-07 10:49 AM
Response to Reply #1
21. Yup, they are getting greedy.
Their renovations were performed tax free (ie. they are not taxable as "winnings" or a "gift". Extreme Home Makeover is operating under a clause that allows "renters" to make improvements on a property tax free to the owner).

These folks have gotten plenty of money to cover a couple of years of property taxes, maintenance and probably even a good stretch of their mortgage. They are now just being greedy.
Printer Friendly | Permalink |  | Top
 
  -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 
 

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC