Can I claim long commute as "Unforseen Circumstances" to avoid Capital Gains?

#1 04-05-2005, 08:53 AM

"A.G. Kalman" <glendale202-mtm[at]yahoo.com> wrote:
- quote -

> DeniskaMAshka[at]yahoo.com wrote:

> > My wife and I bought a house in March 2004, but now I'm
> > really sick of driving 30 miles thru traffic each way from
> > and to work. I did not change jobs, but bought the house
> > during "Spring Break" season, when traffic was light, and
> > later found that the other 10 months traffic sucks.
> > > I want to sell this house and buy a new one closer to work,
> > bot do not want to pay the "Capital Gains" tax. (How can it
> > be a gain, if the other houses in San Diego now cost even
> > more than mine? By the time I buy new house, I will have
> > lost money.)
> > > So, does anyone know if I can use the 1.5hr commute (each
> > way!) as the "Unforseen Circumstance" to avoid paying the
> > capital gains?

> Please note that other than some safe harbors (none of which
> you meet) already created by the IRS in published guidance,
> what is or isn't an unforseen circumstance would be
> determined on an individual facts and circumstances basis.
> Based on the facts presented, your situation is not an
> unforseen circumstance.

No kidding. I only spend 1-2 weeks a year in San Diego and
I know the traffic on the 8 sucks.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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04-02-2005, 06:58 AM

DeniskaMAshka[at]yahoo.com wrote:

- quote -

> My wife and I bought a house in March 2004, but now I'm
> really sick of driving 30 miles thru traffic each way from
> and to work. I did not change jobs, but bought the house
> during "Spring Break" season, when traffic was light, and
> later found that the other 10 months traffic sucks.
> I want to sell this house and buy a new one closer to work,
> bot do not want to pay the "Capital Gains" tax. (How can it
> be a gain, if the other houses in San Diego now cost even
> more than mine? By the time I buy new house, I will have
> lost money.)
> So, does anyone know if I can use the 1.5hr commute (each
> way!) as the "Unforseen Circumstance" to avoid paying the
> capital gains?

Please note that other than some safe harbors (none of which
you meet) already created by the IRS in published guidance,
what is or isn't an unforseen circumstance would be
determined on an individual facts and circumstances basis.

Based on the facts presented, your situation is not an
unforseen circumstance.

--
Alan
http://taxtopics.net

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

#-1 04-01-2005, 09:41 AM

My wife and I bought a house in March 2004, but now I'm
really sick of driving 30 miles thru traffic each way from
and to work. I did not change jobs, but bought the house
during "Spring Break" season, when traffic was light, and
later found that the other 10 months traffic sucks.

I want to sell this house and buy a new one closer to work,
bot do not want to pay the "Capital Gains" tax. (How can it
be a gain, if the other houses in San Diego now cost even
more than mine? By the time I buy new house, I will have
lost money.)

So, does anyone know if I can use the 1.5hr commute (each
way!) as the "Unforseen Circumstance" to avoid paying the
capital gains?

Sincerely,
Denis

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

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