1) Gain on the sale of your principle residence.
3) Gift from relatives.
This is a complicated area and every individual should be prepared. I suggest that one should perform this exercise and be prepared to account for unreported appreciation in wealth. If you are concerned and worried consult with a professional and seriously consider a voluntary disclosure.
See my newsletter on the subject of voluntary disclosure.
for more information on taxation visit my website.
This blog is for general information only and cannot replace professional advice.
The reader is invited to contact the writer to discuss the contents of the newsletter.
Readers are advised to seek professional advice before acting on the material
in this newsletter