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Hey Andrew, hoping you can set us straight on our question. We are in the process of selling our house, and have actually got the offer we wanted. Fortunately, we will walk away with more than the $500k that is allowed tax free. After all the expenses we could deduct from the remaining amount, will be be taxed on the remaining amount even if we reinvest/purchase a new home/like property? We thought that if we bought another home within 6 months we could avoid any long-term capital gains. True? Thanks in advance for your guidance!
Option2 would be to start treaing it as a rental and then when you sell, buy another rental property with all of the proceeds snd then no capital gains are due (1031 exchange). IRS wil only recapture however many months/ years of depreciation from the start of the rental period. If you are letting him live there rent free in lieu of child support, an option would be to pay him child support snd let him then pay it back to you as rent.
My father deeded his house to me over two years ago. He lived in the home (of course, rent free) until his death. The home is not in the state in which I live. Will I have to pay capital gains on the sell of the house? Thank you.
Hi Great article. This seems like a great tax advantage. So if I understand it you can buy a house improve on it over 2 years that you are living in it and then turn around and sell it for profit and as long as the gain is no more tha $500 k you keep all of that money. And then you could do this all over again. Theoretically you can make $500k tax free every two years forever? Am I understanding that correctly?
My parents are willing to either quit claim to me or just give me all the proceeds after the sale, which ever way makes the most tax sense. And they can gift me up to $5 million tax free anyway, right?
PACER was charging eight cents per page for information that Carl Malamud, who founded the nonprofit group Public.Resource.Org, contended should be free, because federal documents are not covered by copyright. The fees were "plowed back to the courts to finance technology, but the system [ran] a budget surplus of some $150 million, according to court reports," reported The New York Times. PACER used technology that was "designed in the bygone days of screechy telephone modems ... putting the nation's legal system behind a wall of cash and kludge." Malamud appealed to fellow activists, urging them to visit one of 17 libraries conducting a free trial of the PACER system, download court documents, and send them to him for public distribution.
On September 29, 2008, the GPO suspended the free trial, "pending an evaluation" of the program. Swartz's actions were subsequently investigated by the FBI. The case was closed after two months with no charges filed. Swartz learned the details of the investigation after filing a FOIA request with the FBI, and described their response as the "usual mess of confusions that shows the FBI's lack of sense of humor." PACER still charges per page, but customers using Firefox, Chrome, or Safari have the option of saving the documents for free public access with a plug-in called RECAP.
Author Cory Doctorow, in his novel Homeland, "drew on advice from Swartz in setting out how his protagonist could use the information now available about voters to create a grass-roots anti-establishment political campaign." In an afterword to the novel, Swartz wrote: "These political hacktivist tools can be used by anyone motivated and talented enough.... Now it's up to you to change the system. ... Let me know if I can help."
He added, "We won this fight because everyone made themselves the hero of their own story. Everyone took it as their job to save this crucial freedom." He was referring to a series of protests against the bill by numerous websites, described by the Electronic Frontier Foundation as the biggest protest in Internet history, with over 115,000 sites posting their opposition. Swartz also spoke on the topic at an event organized by ThoughtWorks.
Tom Dolan, husband of U.S. Attorney for Massachusetts Carmen Ortiz, whose office prosecuted Swartz's case, replied with criticism of the Swartz family: "Truly incredible that in their own son's obit they blame others for his death and make no mention of the 6-month offer." This comment triggered some criticism; Esquire writer Charlie Pierce replied, "the glibness with which her husband and her defenders toss off a 'mere' six months in federal prison, low-security or not, is a further indication that something is seriously out of whack with the way our prosecutors think these days."
Reuters news agency called Swartz "an online icon" who "help[ed] to make a virtual mountain of information freely available to the public, including an estimated 19 million pages of federal court documents." The Associated Press (AP) reported that Swartz's case "highlights society's uncertain, evolving view of how to treat people who break into computer systems and share data not to enrich themselves, but to make it available to others," and that JSTOR's lawyer, former U.S. Attorney for the Southern District of New York Mary Jo White, had asked the lead prosecutor to drop the charges.
As discussed by the editor Hrag Vartanian in Hyperallergic, Brooklyn, New York muralist BAMN ("By Any Means Necessary") created a mural of Swartz. "Swartz was an amazing human being who fought tirelessly for our right to a free and open Internet," the artist explained. "He was much more than just the 'Reddit guy'."
Speaking on April 17, 2013, Yuval Noah Harari described Swartz as "the first martyr of the Freedom of Information movement". However, according to Harari, Swartz's stance did not illustrate the belief in the freedom of persons or speech but stemmed from the increasing belief among the young generation that above anything else, information should be free.
On January 13, 2013, members of Anonymous hacked two websites on the MIT domain, replacing them with tributes to Swartz that called on members of the Internet community to use his death as a rallying point for the open access movement. The banner included a list of demands for improvements in the U.S. copyright system, along with Swartz's Guerilla Open Access Manifesto. On the night of January 18, 2013, MIT's e-mail system was taken offline for ten hours. On January 22, e-mail sent to MIT was redirected by hackers Aush0k and TibitXimer to the Korea Advanced Institute of Science & Technology. All other traffic to MIT was redirected to a computer at Harvard University that was publishing a statement headed "R.I.P Aaron Swartz," with text from a 2009 posting by Swartz, accompanied by a chiptune version of "The Star-Spangled Banner". MIT regained full control after about seven hours. In the early hours of January 26, 2013, the U.S. Sentencing Commission website, USSC.gov, was hacked by Anonymous. The home page was replaced with an embedded YouTube video, Anonymous Operation Last Resort. The video statement said Swartz "faced an impossible choice". A hacker downloaded "hundreds of thousands" of scientific-journal articles from a Swiss publisher's website and republished them on the open Web in Swartz's honor a week before the first anniversary of his death.
Massachusetts Democratic Senator Elizabeth Warren issued a statement saying "[Aaron's] advocacy for Internet freedom, social justice, and Wall Street reform demonstrated ... the power of his ideas ..."
Issa, who chaired the House Committee on Oversight and Government Reform, announced that he would investigate the Justice Department's actions in prosecuting Swartz. In a statement to The Huffington Post, he praised Swartz's work toward "open government and free access to the people." Issa's investigation has garnered some bipartisan support.
Mashable called the documentary "a powerful homage to Aaron Swartz". Its debut at Sundance received a standing ovation. Mashable printed, "With the help of experts, The Internet's Own Boy makes a clear argument: Swartz unjustly became a victim of the rights and freedoms for which he stood." The Hollywood Reporter described it as a "heartbreaking" story of a "tech wunderkind persecuted by the U.S. government", and a must-see "for anyone who knows enough to care about the way laws govern information transfer in the digital age".
In October 2014, Killswitch, a documentary film featuring Swartz, as well as Lawrence Lessig, Tim Wu, and Edward Snowden, received its world premiere at the Woodstock Film Festival, where it won the award for Best Editing. The film focuses on Swartz's role in advocating for internet freedoms.
In February 2015, Killswitch was invited to screen at the Capitol Visitor's Center in Washington, D.C. by Congressman Alan Grayson. The event was held on the eve of the Federal Communications Commission's historic decision on Net Neutrality. Congressman Grayson, Lawrence Lessig, and Free Press CEO Craig Aaron spoke about Swartz and his fight on behalf of a free and open Internet at the event.
It was observed that the hydroxycinnamic acids, when ingested in the free form, are rapidly absorbed by the small intestine and are conjugated as the flavonoids.26 However these compounds are naturally esterified in plant products and esterification impairs their absorption because intestinal mucosa, liver and plasma do not possess esterases capable of hydrolyzing chlorogenic acid to release caffeic acid, and hydrolysis can be performed only by the microflora present in colon.27 Though most of the poyphenols get absorbed in gastrointestinal tract and intestine but there are some poyphenols which are not absorbed in these locations. These polyphenols reach the colon, where microflora hydrolyze glycosides into aglycones and extensively metabolize these aglycones into various aromatic acids.28 2b1af7f3a8