The Soapbox

Hoodafan

Joined: 09/29/2013 Posts: 60863
Likes: 57514


LOL! Did someone tell you there would be no math?


No Matt, even if we stipulate his ownership was 1/3 you would have:

Asset value would be his Cost basis of 1/3 of the value when he bought, or appraised value when he received the property. Thomas allegedly said that was around $15K, he could've received that back in the 80's for all we know. That the $15K figure is even wrong has not been established, not that it matters.

His Sale proceeds would be 1/3 of $133K, or roughly $44K.

The "overpayment", which has not even been established, would be $133K - actual market value, and his share of that "overpayment" would be 1/3 of that unknown figure. Which at the absolute most could be $44K, not your "favorable" $88K, which is literally impossible.

(In response to this post by WahooMatt05)

Posted: 04/13/2023 at 4:49PM



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  Correct ** -- Newt 04/13/2023 2:58PM

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