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I don't do trust work, but does the answer here depend on the type of trust? In an earlier comment this fact was offered: "The personal residence which original...
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It will be completely phased out at $250K. Edit: Corrected per Bob above.
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It happens. When I was younger I was always confused hearing about Yukon in the March Madness tournaments. Turns out I had the incorrect U.
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Last time I saw such an asset "no longer used in the business" it was because the daughter took it to college with her...
