Hiker fined $25,000 for rescue in New Hampshire

[RJRiha]

We get tax deductions for capital gains losses (we made bad choices with our money, so we are given money back).

Really? How does that work, Gary? I had to bring a $13,000+/- check to closing when I sold my first house.

When tax time came around, H&R Block told me "tough titties" on seeing any of that scratch coming back to me.

However, if I had made money on the sale, they told me, I would have had to pay CG taxes on that, unless I re-invested it.

 

Yeah, capital loss rules exclude primary residences. We wouldn't want the peons of the country using the tax deductions that allow the ultra-rich to escape without a tax bill.