Posted on 05/30/2014 1:38:59 AM PDT by iowamark
bump
So the league rushed to judgment branding a sick old man of being a Racist. This may be a violation of the ADA.
Or this could be a ploy on the part of the Sterling trust. But I hope Ballmer takes the team to Seattle.
But not legally.
You heard it first, right here on FR:
26 USC 1033
(a) General rule
If property (as a result of its destruction in whole or in part, theft, seizure, or requisition or condemnation or threat or imminence thereof) is compulsorily or involuntarily converted—
(1) Conversion into similar property
Into property similar or related in service or use to the property so converted, no gain shall be recognized.
Federal and CA tax is 31.5%.
You figure it out.
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