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Crypto Tax Question — capital gains on inherited property

Started by just_curious_freelancer_NY · Sep 23, 2023 · 1,516 views · 22 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
JC
just_curious_freelancer_NY OP

Looking for advice on a legal issue. Here's what happened.

capital gains on inherited property. I've been dealing with this for about 11 months now and the situation isn't improving.

I have already done some research online but got conflicting advice.

Do I have a strong case? What should my next steps be?

TL
Mod_TermsLaw Moderator

Attorney here. Here's my take on the legal issues.

This is a common situation and the law is fairly clear. Under the relevant statute, actionable.

The practical consideration here is cost vs. potential recovery. For disputes under $10K, small claims court is often the best route.

CR
confused_renter_2023

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

AE
anon_employee_IL

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

AD
anon_dev_MA

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

RL
RetiredLawyer_FL

I've dealt with this before.

What worked for me was filing with the appropriate government agency. It took 4-8 months but was worth it.

RM
RestaurantOwner_Miami

I went through almost the exact same thing.

What worked for me was filing with the appropriate government agency. It took 4-8 months but was worth it.

SM
SeniorDevMike_PDX

Not a lawyer, but I have direct experience with this.

I ended up hiring an attorney to send the initial letter, which cost about $2-4 but saved me a lot more in the long run.

IG
InsuranceGuy_FL

Not a lawyer, but I have direct experience with this.

In my case, it took about 1-3 months to resolve. The key was escalating to a supervisor/manager.

TR
TruckerRights_OH

Been there. Here's what I learned.

What worked for me was having everything documented. It took 3-6 months but was worth it.

AE
anon_employee_help

NAL, but from what I've read, you should send a written demand. That said, definitely get a lawyer to look at the specifics.

EA
EstatePlanner_AZ

I went through almost the exact same thing.

I ended up escalating to a supervisor/manager, which cost about $1-3 but saved me a lot more in the long run.

VA
VCAnalyst_SF

I've seen this play out several times in my field.

I ended up having everything documented, which cost about $3-6 but saved me a lot more in the long run.

HM
help_me_driver_advice

Have you tried reaching out to your state's attorney general? They sometimes have free resources or mediation services.

CM
ContractorMike_CA

Been there. Here's what I learned.

The biggest mistake people make in this situation is escalating to a supervisor/manager. I'd recommend following the formal complaint procedure instead.

ES
eComm_Seller_2022

Been there. Here's what I learned.

What worked for me was hiring an attorney to send the initial letter. It took 2-4 months but was worth it.

JC
just_curious_business_owner_advice

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

AC
anon_contractor_NC

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

TS
throwaway_seller_GA

NAL, but from what I've read, you should document everything. That said, definitely get a lawyer to look at the specifics.

TF
TechStartup_Founder

Not a lawyer, but I have direct experience with this.

I ended up escalating to a supervisor/manager, which cost about $1-3 but saved me a lot more in the long run.

AF
asking_for_friend_business_owner_CO

NAL, but from what I've read, you should check your state's specific laws. That said, definitely get a lawyer to look at the specifics.

JC
just_curious_buyer_2023

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

HC
HRManager_Chicago

I've seen this play out several times in my field.

What worked for me was escalating to a supervisor/manager. It took 1-3 months but was worth it.

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