To: jeevacation©gmail.compeevacation©gmail.com]; Jeffrey Epsteinbeeyacation©gmail.corn]
From: drsra
Sent Thur 11/3/2011 12:25:25 AM
Here is the latest concern. I don't know who wants me to transfer my Hardman Development
stock back to Mike Hardman. My CPA says that does not eliminate my tax liability for the
period during which I owned the stock. Worse, I will not be entitled to the tax returns on which
the loss will be filed. My Tax lawyer found a case that shows I can't have the 1099 Forgiveness
of Debt Income liability paassed on to me by the S Corp, but I would be entitled to claim the
losses against future capital gains. He says it would be substantial and help recoup my lost
money in tax savings. If I transter the stock then I will not have access to Hardman
Development Tax Returns and therefore will get screwed out of the loss, but may get a personal
1099 and hammered by the IRS that way. I have to find out waht all this means,
My tax lawyer (who is a close friend, by the way), says the Bank doesn't realize the mess they
have stepped into and he feels confident that they cannot prevail in a lawsuit for deficiency
judgment. I think I may go talk to Kranz with my tax lawyer, who Kranz knows and let the
lawyer tell him everything to sec how he reacts. Thoughts?
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