Highlights: 125x with Capt Sather, unexpected tax hurdles, called the electrician to the house
My final instrument flight went much like my previous two. One of the fun things about flying with peers of mine, is that they get stuck in certain ruts,,, flying to the same places over & over with a revolving door of Lieutenants who are seeing this for the first time in a “phrog” (that’s what we call a CH-46 helicopter,,, since it resembles a frog when you look at it head on). Since I was planning these flights, I took them off the beaten path, so we could see something a little more fun. The crew chiefs enjoyed it too. Guys have been in this squadron for 3 years, and have never flown over Disneyland! So it was fun to fly the Los Alamitos route again.
Today’s flight was 1.5 hours,,, and pretty straight forward.
When I got home, I found a letter from the IRS, saying they wanted money from my 2005 taxes. 2 years ago I liquidated part of my mutual fund to buy this house in San Diego. The IRS considers that income. I didn’t think to claim that back then, so now the IRS wants their 30% cut of that $14,000. Awwwww man! That sucks! I was all excited about taxes just now.
After going back to the tax center, they said the IRS didn’t consider what I had paid into that mutual fund. I should only be paying taxes on the capital gains,, not the whole sum. So now I have to find out what the cost basis was for all those shares of mutual fund I sold in 2005. translation,,, subtract what I paid into the shares from the amount I got when I cashed them… that difference is what I should be paying taxes on instead of the whole sum. Taxes are confusing.
At the house, Violet smelled something burning when we used a certain outlet. Possible electric fires in the walls… I don’t want to cut any corners there- the soonest we can get an electrician out to the house is tomorrow. The house won’t burn down overnight, I don’t think. Whew… one thing after another.
My final instrument flight went much like my previous two. One of the fun things about flying with peers of mine, is that they get stuck in certain ruts,,, flying to the same places over & over with a revolving door of Lieutenants who are seeing this for the first time in a “phrog” (that’s what we call a CH-46 helicopter,,, since it resembles a frog when you look at it head on). Since I was planning these flights, I took them off the beaten path, so we could see something a little more fun. The crew chiefs enjoyed it too. Guys have been in this squadron for 3 years, and have never flown over Disneyland! So it was fun to fly the Los Alamitos route again.
Today’s flight was 1.5 hours,,, and pretty straight forward.
When I got home, I found a letter from the IRS, saying they wanted money from my 2005 taxes. 2 years ago I liquidated part of my mutual fund to buy this house in San Diego. The IRS considers that income. I didn’t think to claim that back then, so now the IRS wants their 30% cut of that $14,000. Awwwww man! That sucks! I was all excited about taxes just now.
After going back to the tax center, they said the IRS didn’t consider what I had paid into that mutual fund. I should only be paying taxes on the capital gains,, not the whole sum. So now I have to find out what the cost basis was for all those shares of mutual fund I sold in 2005. translation,,, subtract what I paid into the shares from the amount I got when I cashed them… that difference is what I should be paying taxes on instead of the whole sum. Taxes are confusing.
At the house, Violet smelled something burning when we used a certain outlet. Possible electric fires in the walls… I don’t want to cut any corners there- the soonest we can get an electrician out to the house is tomorrow. The house won’t burn down overnight, I don’t think. Whew… one thing after another.
posted by jonathan adventures at 11:57 PM
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