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 > Your search for posts made by 'jalichty' found 42 matches.

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RE: Ever done a 1031 Exchange?

If the land gets a step-up in basis due to the death, then you have long-term holding period on the day you get the land. Therefore, the gain would be long-term and taxed accordingly. I am not your accountant, but if the accountants says the basis gets stepped up on the distribution from the trust, then it is not a gift. If it's not a gift, but an inheritance, then your holding period is considered long-term when it comes out of the trust. Even if it was a gift, the holding period is long-term as long as the decedent owned it the requisite amount of time.
jalichty 01/15/18 01:15pm Around the Campfire
RE: Ever done a 1031 Exchange?

You would have the same holding period as your grandfather, but, since it appears to have been a gift, your basis would be the same as his rather than getting a step-up when he died, if I read your post correctly. As far as owning the land for a long or short time, that is somewhat irrevelant(sp) to the question. If the land was held personally, then it will not qualify for a 1031 exchange, regardless of the holding period. Check back with an accountant, not a 1031 agent, about the holding period and basis. 1031 agents are not necessarily schooled in the law and it is somewhat complex.
jalichty 01/13/18 08:54am Around the Campfire
RE: air miles credit card

X2 as to what 2012 Coleman said. In addition, when you get the card, most of them have bonus miles for spending within a specified period of time. When we got ours, we got a bunch of miles by paying for our insurance on cars and house within the appropriate time frame.
jalichty 01/11/18 03:25pm Around the Campfire
RE: Ever done a 1031 Exchange?

The rule for a 1031 exchange is property used in a trade or business or held for investment in exchange for property used in a trade or business or held for investment. That means a person could exchange bare land for improved land and utilize the 1031 rules. As far as the exchange agent charges, they would be much small than the $25,000 tax you are talking about. Was the land you now own somehow or other used in farming or some other ag business? If so, you could do an exchange and the property doesn't have to be the same size. I had a client many years ago who sold numerous parcels of his ranch and did 1031 exchanges for operating rental buildings. Only problem was the carryover basis, unimproved ranch land didn't have much basis to carry to the new property. Have you talked to a professional, like a CPA yet? If not, get on the phone as soon as possible to one and get some professional advice.
jalichty 01/11/18 03:24pm Around the Campfire
RE: Social security question

My wife and I both got our 2.1%, more or less, for 2018. My increase covered the increase in Medicare Part B and D but my wife's did not so we ended up getting a bit less overall than 2017. However, I took a look at our total premiums for the Medicare Parts B and D and our supplement and our monthly premiums were about $662 per month on average. Based on what is going on with the private insurance market, it seems like this is a bit of a bargain. I got our notice from SS around the middle of December in the mail. Did you not get that notice?
jalichty 01/11/18 03:16pm Around the Campfire
RE: Grand Teton, Gros Ventre RV Park: May 2018

You shouldn't have any problem getting a spot at Gros Ventre during that time of year. They do not have any full hook-ups, just some spaces with electricity. Your choice to spend the extra money for a more expensive site, but, if you don't mind dry camping, Gros Ventre would be good for you. I prefer Colter Bay, in the Park, as we fish when we camp there and Gros Ventre is quite a ways further from Jackson Lake than is Colter Bay, 45 minutes compared to 5. Colter Bay does have an RV park. Don't know when Colter Bay opens as we usually don't go up there until the end of May, early June. Make sure your batteries and propane are full as it will probably be a bit cool that time of year. We took our boat up there one time for Memorial Day and got six inches of snow on the boat on May 31. Whatever you do, have a great time and enjoy one of the prettiest spots in our country.
jalichty 01/11/18 03:09pm RV Parks, Campgrounds and Attractions
RE: 2014 duramax questions

Seems to be a little high to me as well, the sticker price on our 2012 GMC Crew-Cab, D/A combo with short bed was $53,000. Looking at Blue Book the last time, seemed to me the price was down around $40,000+, but that was a year or so ago. Maybe it's that nice a truck, but with the rebates going around, I would suggest he look at the new 2017s if he can find one.
jalichty 12/07/17 07:58am Tow Vehicles
RE: Health Insurance Advice

I went on Medicare when I reached 65 and took a supplement that I was offered by my professional association. Since I have been on regular Medicare and supplement I have yet to write a check to a doctor or a hospital for any care I have received. I looked at the Medicare Advantage plans and felt that I would end up with more out-of-pocket with the Advantage plan than I do with my current set-up even with the reduced premiums of the Advantage plans. My supplement is Part F. I also have a Part D plan through Humana which, at least for me is great as I only take two prescriptions, both of which are on 90-day prescriptions and are generic so I pay nothing extra for them. I do not recover my premiums per year yet on the Part D, but my wife certainly does over the year due to some of the prescriptions she currently has.
jalichty 11/06/17 10:51am Around the Campfire
Fire Extinguisher Recal

Folks, I found this on another site and checked two of mine, the one in the boat is subject to re-call. I haven't checked the one in the FW yet, but will when it gets little warmer around here. Follow this link. https://inmarmarketaction.com/kidde/
jalichty 11/04/17 08:34am Fifth-Wheels
RE: Fresh Water Tank Drainage ?

What's the big hurry to drain the fresh water tank? I would assume you are through for you trip and just want to drain it. Why not just take it home, open the valve and then do some other things around the house or trailer for a while. That's what I do and I realize it takes a while, but since I'm not going anywhere very soon, it's not a big deal.
jalichty 10/31/17 10:43am Fifth-Wheels
RE: Possible national park entrance fee hikes.

The idea of increasing fees for the parks out west is due to "deferred maintenance" in the parks of just of $11 billion dollars. The parks increasing the fees get to keep 80% of the fees charged and collected while the other 20% goes to the parks that do not charge fees. And, if the $70 fee for a week is a little too high, then a person can buy a yearly pass for $80 if I remember correctly. Please compare that cost to the cost of entering Disney World or Universal Studios for one person for one day. I know the experiences are very different, but the $70 fee seems like a bargain compared to those parks.
jalichty 10/26/17 12:02pm Around the Campfire
RE: Ford/Chevy mileage

Back to the question, my 2012 GMC D/A combo crew-cab will get around 12 mpg pulling my 30' FW and 19" aluminum boat together. On the highway at around 70 mph, we will get between 18 and 19 mpg. I haven't never owned a Ford Diesel so can't help you with the Ford mpg, but others have.
jalichty 10/25/17 08:53am Tow Vehicles
RE: Teton camping

Have to agree with Steve 83406, even though the campsites are surrounded by trees, stepping out of the fifth wheel and into the roads around the sites will allow you a wonderful view of the Tetons. Then, just take a short, five minute, walk and you are at the shore of Jackson Lake and one of the prettiest views in the world, in my opinion. We go there at least three times per year, June, July and August, camp and then go fishing and sightseeing. Gros Ventre is about 45 minutes from Jackson Lake and the view from there is compromised by the hills between the campground and the Tetons as can be seen in the picture posted by rv2go. Signal Mountain would be great, but i believe your fifth wheel is too long for that campground.
jalichty 10/09/17 03:08pm RV Parks, Campgrounds and Attractions
RE: Louvered tailgates

When I put ours on the first time, I told the tech that it wasn't if I "might" hit the tailgate, but when so why set yourself up for disaster. Don't have much in the back of short-bed truck so no real need to have a locking tailgate, but the one I currently have does have a lock, however, I don't remember where I put the keys when I bought it a little over six years ago.
jalichty 09/18/17 08:51am Fifth-Wheels
RE: How long do you plan to keep your TV

Hopefully until I quit towing for pleasure. Bought our GMC D/A in June 2012 and currently have about 35,000 miles on it after 5+ years. If it operates properly, it should last until we quit towing as I am 72 years old now and don't know how long we can go, but the truck should last however long that is, hopefully.
jalichty 09/05/17 08:27am Tow Vehicles
RE: Filling Water Tank

I have just put a "wire nut" into the overflow tube after filling the fresh water tank. I used to lose a bunch of water before doing that. However, now I don't travel with much water at all and fill up at the campground when we get where we are going. The "wire nut" in the proper size worked very well.
jalichty 08/30/17 08:16am Fifth-Wheels
RE: yellowstone we are a coming

ReneeG, I would think that, if you arrive at Colter Bay Campground after 9:00 am and before 11:00 am, which is check-out time, you'll find a camp spot that you will like. We went there, for the second time this year, after the 4th of July and ran into the longest entry line we have ever encountered, however, we got a very nice spot and after all those people checking in, the campground was not full. I would think the traffic would settle down a bit after the Eclipse broohaha and you should have a great chance to score a nice camp site.
jalichty 07/24/17 08:05am RV Parks, Campgrounds and Attractions
RE: yellowstone we are a coming

ReneeG, the hookup sites you are referring to in the campground are only electric, no sewer or water. They are larger than most of the other sites and some of them are reserved for folks with physical problems needing electricity. While we were there in early July, everyone of the sites was filled every day we were there. You are right about the RV park sites being pretty close together and the cost is pretty high, I believe $71 per day without any discounts. The campground is $30 per day but only $15.50 with a senior pass, so a large difference in cost between the two.
jalichty 07/21/17 09:07am RV Parks, Campgrounds and Attractions
RE: Fifth Wheel/Diesel mpg

Just got back from a trip up to Grand Teton towing our 30' FW and a 19' boat up into and back out of the mountains. Small amount of sightseeing, probably 50 mile or so. Total trip about 450 miles and console tells me we got 12 MPG overall towing this set-up. Took a long trip, 3,800 miles a couple of years ago with about 3,500 towing the FW, no boat, and hand-calculated we got 12.6 MPG for the entire trip. Never once had frazzled nerves towing our FW, even with our GMC 2500HD rather than a 3500 one ton.
jalichty 07/13/17 09:10am Fifth-Wheels
RE: Who's mounted a generator on the rear

I noticed the weight change when hooking our boat to the rear of the FW, but the FW seems to trailer about the same whether we have the boat attached to the rear or not. I don't really think that putting a generator on there rear of the FW will affect the towing characteristics very much at all.
jalichty 06/19/17 08:14am Fifth-Wheels
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