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"Boots On The Groud" Tax Break

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"Boots On The Groud" Tax Break

Post  jumpmasterart on Sat Oct 01, 2011 4:48 pm


I would like to first say, Thank You Sir for all that you do. It gives one, Peace Of Mind to know that you are at the Pulse of the information that is provided. You are very much appreciated! God Bless you Sir!

I was in Baghdad in early 2004 after the initial push being stationed at the "Al Salaam Palace". It was just outside the Green Zone and was known as FOB Gunner, we changed it to FOB "Highlander". At that time we had a sister Company attached to another Division that was set up at the Al Rasheed Hotel. On numerous occasions we were able to coordinate our missions into the Green Zone to stop by and have lunch at the restaurant while visiting buddies of that Co. As the situation progressed the new IQD was created and we observed the Executive Order that gave permission to purchase the IQD. At that time, after lunch while visiting our friends on the way out we would go by the Bank of Al Rasheed and purchase some IQD over the counter.
Interestingly enough, the FOB was later changed to "Prosperity" by the "Heavy Breathers" up the the Chain Of Command. I would make reference to those that were there “boots on the ground” and friends and loved ones Back in the World, to the fact that I finally had reached and now live in "Prosperity". Little did I no then, that what what I was claiming would later be coming true, Mark 11;24 says, When You Pray believe that you have received and you shall have it. I had been speaking that of the unseen as though it were the seen.
Anyway, I have question regarding the purchase of the IQD while in country. We were told that there was a provision within the IRS Tax Laws, that allowed personnel in country who purchased the IQD while “boots on the ground” would receive an “additional tax incentive”. I am of the understanding that this is considered a Capital Gains situation and that because we have held it for greater than one (1) year we would be assessed a 15% Tax Liability at cash in or exchange. Could you, through your sphere of influence and experience shed some light on this? I have spoke to a couple of tax attorney’s about this and they were unwilling to speak to me and thought that the IQD was foolish. Needless to say I will not see them after the RV other than to let them know that they missed out because they were “Lobsters” and were most likely weened on a dill pickle.
Thank You for your Time.

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