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cottage [2025/06/12 20:55] – donaldcottage [2026/08/23 01:44] (current) – [2025 08 20] donald
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 ====== Cottage ====== ====== Cottage ======
  
 +===== 2025 08 20 =====
 +
 +  * washer is kenmore 4240090
 +  * lockbox is 2316
 +
 +===== 2025 06 12 =====
 +
 +  * kitchen fridge 24 x 60
  
 ===== Inheriting ===== ===== Inheriting =====
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   * Cottage was appraised at $1,155,000 in 2017.   * Cottage was appraised at $1,155,000 in 2017.
   * From Doug 6/11/2025 <code>    Yes, your heirs get the appraised basis at the time of your death as their basis.    * From Doug 6/11/2025 <code>    Yes, your heirs get the appraised basis at the time of your death as their basis. 
-    But, your estate pays capital gains on the difference between the basis you got from Mom and the appraised basis (value) at the time of your death.  Establishing your basis via documents may be necessary.  It was with Bruce’s estate.  +    But, your estate pays capital gains on the difference between the basis you got from Mom and the appraised  
-    Plus your estate will pay a “transfer tax” based on the appraised value at the time of your death in addition to  capital gains.   No basis or deductions.  +    basis (value) at the time of your death.  Establishing your basis via documents may be necessary.  It was  
-    Bruce’s transfer, legal fees, accountants and taxes of all kinds has cost $18,000 USD so far, and I think it is done, but he only owned it for less than 2 years. +    with Bruce’s estate.  
 +    Plus your estate will pay a “transfer tax” based on the appraised value at the time of your death in  
 +    addition to  capital gains.   No basis or deductions.  
 +    Bruce’s transfer, legal fees, accountants and taxes of all kinds has cost $18,000 USD so far, and I  
 +    think it is done, but he only owned it for less than 2 years. 
     To pay capital gains you need to file a tax return and write the check on a Canadian bank.     To pay capital gains you need to file a tax return and write the check on a Canadian bank.
-    Plus his was a “foreign owner” estate.  Another reason to tell you “it’s complicated” and take a bit more of your money. </code>+    Plus his was a “foreign owner” estate.  Another reason to tell you “it’s complicated” and take a bit  
 +    more of your money. </code>
  
 ===== Legal description ===== ===== Legal description =====
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 ===== Bunkie ===== ===== Bunkie =====
  
-  * refrigerator is 28w x 56h+  * refrigerator is whirlpool yet18pkxb 
  
   * [[ CottageInternet | Cottage Internet]]   * [[ CottageInternet | Cottage Internet]]
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   * [[bunkieTodo | Bunkie To Do ]]   * [[bunkieTodo | Bunkie To Do ]]
   * [[homeDepot | Home Depot to get]]   * [[homeDepot | Home Depot to get]]
 +  * [[Tin Boat | Tin Boat]]
   * [[wpholloway| wph]]      * [[wpholloway| wph]]   
  
  
cottage.1749761716.txt.gz · Last modified: 2025/06/12 20:55 by donald