Is Obama a tax cheat this year?

They released his tax statement a couple of days ago. He didn't claim the Nobel prize money on his taxes since it went right straight to charities (yeah for him (no really)). However you can only deduct so much of your income to a charity before it becomes taxable. If he didn't claim it how do you know some of it isn't taxable because of our tax laws.

You win the lottery or casino you have to claim that money. You have debt forgiven you have to claim that money even though you never see it. Obama won the prize money, he directed which charity the money goes to, he should have to claim it on his taxes even though he gave it all away.

Tim Geithner must've done his taxes.

?? does the current tax law allow him to not claim the award money if it went directly to charities instead of coming to him? and if they do allow it whats yer beef? that he did something legal?

seems to me if obama didnt follow the law fox woulda been on it like maggots on a used teabag..yet they simply say ""The president, who last year won the Nobel Prize for Peace, also donated the $1.4 million in proceeds from the prize to 10 different charities.
The president did not claim the prize money, or the charitable donation, on his taxes, the White House said, because the Internal Revenue Code provides that "if the recipient of the Nobel Prize directs the Nobel Committee to donate the prize income directly to charity, as the president did, the recipient does not have to recognize the prize as income on his federal income tax return.'' And he cannot claim the charitable donation on his taxes as a deduction, either.""

Or maybe he didn't claim b/c he knows deep down he didn't deserve it.

floridafun wrote:?? does the current tax law allow him to not claim the award money if it went directly to charities instead of coming to him? and if they do allow it whats yer beef? that he did something legal?

seems to me if obama didnt follow the law fox woulda been on it like maggots on a used teabag..yet they simply say ""The president, who last year won the Nobel Prize for Peace, also donated the $1.4 million in proceeds from the prize to 10 different charities.
The president did not claim the prize money, or the charitable donation, on his taxes, the White House said, because the Internal Revenue Code provides that "if the recipient of the Nobel Prize directs the Nobel Committee to donate the prize income directly to charity, as the president did, the recipient does not have to recognize the prize as income on his federal income tax return.'' And he cannot claim the charitable donation on his taxes as a deduction, either.""

Give me the IRS code for that? Only thing I found is money donated to charities must meet certain requirements under publication 526. I see nothing in your quotes.

http://www.irs.gov/taxtopics/tc506.html

http://www.irs.gov/app/vita/globalmedia/p525.pdf

Publication 525, page 34...

Pez wrote:http://www.irs.gov/app/vita/globalmedia/p525.pdf

Publication 525, page 34...

Thanks Pez.

Scooby01_98 wrote:

floridafun wrote:?? does the current tax law allow him to not claim the award money if it went directly to charities instead of coming to him? and if they do allow it whats yer beef? that he did something legal?

seems to me if obama didnt follow the law fox woulda been on it like maggots on a used teabag..yet they simply say ""The president, who last year won the Nobel Prize for Peace, also donated the $1.4 million in proceeds from the prize to 10 different charities.
The president did not claim the prize money, or the charitable donation, on his taxes, the White House said, because the Internal Revenue Code provides that "if the recipient of the Nobel Prize directs the Nobel Committee to donate the prize income directly to charity, as the president did, the recipient does not have to recognize the prize as income on his federal income tax return.'' And he cannot claim the charitable donation on his taxes as a deduction, either.""

Give me the IRS code for that? Only thing I found is money donated to charities must meet certain requirements under publication 526. I see nothing in your quotes.

http://www.irs.gov/taxtopics/tc506.html

You are really bitter ... why don't you leave the country.

jcopetti wrote:

Scooby01_98 wrote:

floridafun wrote:?? does the current tax law allow him to not claim the award money if it went directly to charities instead of coming to him? and if they do allow it whats yer beef? that he did something legal?

seems to me if obama didnt follow the law fox woulda been on it like maggots on a used teabag..yet they simply say ""The president, who last year won the Nobel Prize for Peace, also donated the $1.4 million in proceeds from the prize to 10 different charities.
The president did not claim the prize money, or the charitable donation, on his taxes, the White House said, because the Internal Revenue Code provides that "if the recipient of the Nobel Prize directs the Nobel Committee to donate the prize income directly to charity, as the president did, the recipient does not have to recognize the prize as income on his federal income tax return.'' And he cannot claim the charitable donation on his taxes as a deduction, either.""

Give me the IRS code for that? Only thing I found is money donated to charities must meet certain requirements under publication 526. I see nothing in your quotes.

http://www.irs.gov/taxtopics/tc506.html

You are really bitter ... why don't you leave the country.

Rather be bitter; than a dumbass like you. While I have actually served this country. What have you done for it?

Scooby01_98 wrote:Rather be bitter; than a dumbass like you. While I have actually served this country. What have you done for it?

Interesting... When I was 'of age' to join the military, the gulf war had just started and I was in college. It never made sense for me personally and (to be honest), I never felt a compelling sense of duty beyond the selfish benefits (GI bill, rock hard abs etc). In later years it's not quite a regret that I never served, but close to it. The neighbor kid joined the navy this year. The punk signed on for 8 years... He wont get out until he's nearly 30. Non-sequitur, I know...

I find jcopetti's comment amusing... I used to post over at AWB because I found the topics to otherwise be pretty insightful and a lot of the posters would engage in intelligent discourse. Once I was asked to leave Indiana because I thought the attorney general was squandering our tax dollars to sue the government over healthcare. Then I did the unthinkable and got into a topic about race bebcause I didnt think it was all that cool for a black person to address another as 'hot chocolate'... then their moderator kinda baited me a little bit and I bailed after making some snide remark about how their blog used to be intelligent...

I digress... I just dislike the love or leave argument because it ignores the principles that our country was founded on.

Pez wrote:

Scooby01_98 wrote:Rather be bitter; than a dumbass like you. While I have actually served this country. What have you done for it?

Interesting... When I was 'of age' to join the military, the gulf war had just started and I was in college. It never made sense for me personally and (to be honest), I never felt a compelling sense of duty beyond the selfish benefits (GI bill, rock hard abs etc). In later years it's not quite a regret that I never served, but close to it. The neighbor kid joined the navy this year. The punk signed on for 8 years... He wont get out until he's nearly 30. Non-sequitur, I know...

I find jcopetti's comment amusing... I used to post over at AWB because I found the topics to otherwise be pretty insightful and a lot of the posters would engage in intelligent discourse. Once I was asked to leave Indiana because I thought the attorney general was squandering our tax dollars to sue the government over healthcare. Then I did the unthinkable and got into a topic about race bebcause I didnt think it was all that cool for a black person to address another as 'hot chocolate'... then their moderator kinda baited me a little bit and I bailed after making some snide remark about how their blog used to be intelligent...

I digress... I just dislike the love or leave argument because it ignores the principles that our country was founded on.

The military isn't for every one and it isn't that I begrudge anyone for not serving in the military. When I use the term serve I don't necessarily mean in the military. I think of the police officer, fireman, paramedic etc. Someone who puts his life on the line to help someone else.

JC shows up once in a blue moon and makes a dumb comment to someone, no comment pertaining to the discussion just a dumb comment and will disappear for a couple of days or weeks come backs and makes another dumb comment with no comment on the discussion. To me it just shows his low IQ level. I will always answer his dumb comments with the appropriate dumb response because that is what his comments deserve.

Just so you know not everyone in the military has a compelling sense of duty. Some it is just a job and nothing more. Some is for the benefits i.e. GI bill etc. I was never going to do over my initial contract, but enjoyed it and before I knew it; I might as well stay for the 20 and went beyond. I enjoyed the traveling around the country and living in places I would have never been able to if I wasn't in the military.

jcopetti wrote:

Scooby01_98 wrote:

floridafun wrote:?? does the current tax law allow him to not claim the award money if it went directly to charities instead of coming to him? and if they do allow it whats yer beef? that he did something legal?

seems to me if obama didnt follow the law fox woulda been on it like maggots on a used teabag..yet they simply say ""The president, who last year won the Nobel Prize for Peace, also donated the $1.4 million in proceeds from the prize to 10 different charities.
The president did not claim the prize money, or the charitable donation, on his taxes, the White House said, because the Internal Revenue Code provides that "if the recipient of the Nobel Prize directs the Nobel Committee to donate the prize income directly to charity, as the president did, the recipient does not have to recognize the prize as income on his federal income tax return.'' And he cannot claim the charitable donation on his taxes as a deduction, either.""

Give me the IRS code for that? Only thing I found is money donated to charities must meet certain requirements under publication 526. I see nothing in your quotes.

http://www.irs.gov/taxtopics/tc506.html

You are really bitter ... why don't you leave the country.

LOL you crack me up! nothing kinda dumbass about you saying i am bitter because i ASKED you if the current tax law allows obama to handle the award money the way they did..even used fox as a source who didnt question it?? (like you call jcopetti when he says YOU are bitter because you accused me of being bitter)

Scooby01_98 wrote:

Pez wrote:

Scooby01_98 wrote:Rather be bitter; than a dumbass like you. While I have actually served this country. What have you done for it?

Interesting... When I was 'of age' to join the military, the gulf war had just started and I was in college. It never made sense for me personally and (to be honest), I never felt a compelling sense of duty beyond the selfish benefits (GI bill, rock hard abs etc). In later years it's not quite a regret that I never served, but close to it. The neighbor kid joined the navy this year. The punk signed on for 8 years... He wont get out until he's nearly 30. Non-sequitur, I know...

I find jcopetti's comment amusing... I used to post over at AWB because I found the topics to otherwise be pretty insightful and a lot of the posters would engage in intelligent discourse. Once I was asked to leave Indiana because I thought the attorney general was squandering our tax dollars to sue the government over healthcare. Then I did the unthinkable and got into a topic about race bebcause I didnt think it was all that cool for a black person to address another as 'hot chocolate'... then their moderator kinda baited me a little bit and I bailed after making some snide remark about how their blog used to be intelligent...

I digress... I just dislike the love or leave argument because it ignores the principles that our country was founded on.

The military isn't for every one and it isn't that I begrudge anyone for not serving in the military. When I use the term serve I don't necessarily mean in the military. I think of the police officer, fireman, paramedic etc. Someone who puts his life on the line to help someone else.

JC shows up once in a blue moon and makes a dumb comment to someone, no comment pertaining to the discussion just a dumb comment and will disappear for a couple of days or weeks come backs and makes another dumb comment with no comment on the discussion. To me it just shows his low IQ level. I will always answer his dumb comments with the appropriate dumb response because that is what his comments deserve.

Just so you know not everyone in the military has a compelling sense of duty. Some it is just a job and nothing more. Some is for the benefits i.e. GI bill etc. I was never going to do over my initial contract, but enjoyed it and before I knew it; I might as well stay for the 20 and went beyond. I enjoyed the traveling around the country and living in places I would have never been able to if I wasn't in the military.

LOL ScoobyDoo ... so you think FF and my opinions are "dumb comments" etc ... whatever, I think you are just an angry white redneck military man. Oh well ... you think my comments are dumb and I think your opinions and comments are the sign of an angry man.

Edit: I remember when more people use to post here, why is it that the nastiness of some on the right cause the left to leave? I miss Meta! I miss the poster from Canada etc ... Seems like LTRT, S-DOO and Markwes have it their way here now, they are the ones calling people dumb etc ... I guess I will go the way of Meta. Sweet dreams all ... I have more important things like being a parent to 3 kids.

Say hi to THE Vest for me...

jcopetti wrote:Edit: I remember when more people use to post here, why is it that the nastiness of some on the right cause the left to leave? I miss Meta! I miss the poster from Canada etc ... Seems like LTRT, S-DOO and Markwes have it their way here now, they are the ones calling people dumb etc ... I guess I will go the way of Meta. Sweet dreams all ... I have more important things like being a parent to 3 kids.

Yeah, there used to be another poster around here who LOVED to stir the pot named bman. Perhaps you know him? He loves his Ohio State Buckeyes much like I do. He used to basically say that the Politics thread here gets heated and that it's not for the weak of heart (or words to those effect). So maybe you should take bman's advice and not take it so seriously...if you can't stand the heat, stay out of the kitchen!