[StBernard] According to LRA figures - taxes

[Westley Annis]

Bob F :

It's amazing how folks fail to read or comprehend.  They filed a loss on
their taxes to reduce taxable income and either got money back or reduced
the liability.  Then they want to gripe and expect to get the same amount on
the LRA grant!  LOL!  Now that's double-dipping.  (sounds like a bunch of
Democrats doesn't it Westley? <g>  )


JLY


	-----------------------------------------------------
	" The grants, which are averaging about $60,000, are not directly
taxable.
	But the Internal Revenue Service says Road Home recipients who
claimed a
	storm loss on their taxes last year should count the grants as
income on
	their federal tax returns this year. " 
	
	For those who claimed uninsured losses in a prior year resulting in
paying
	less tax, it is only appropriate that grant money equall to the loss
	deduction be considered as income in the year it is received. Not to
do so
	would be considered a duplication of benefits IMHO.
	
	
	
	Bob F.