Dr. Friday Radio Show – February 28, 2026

Dr. Friday Radio Show – February 28, 2026

From The Dr. Friday Radio Show by Dr. Friday Burke

March 2, 2026 · 47 min

About this episode

Dr. Friday discusses practical tax decisions and answers live calls about capital gains, deductions, and IRS issues.

Dr. Friday takes live calls focused on practical tax decisions people are facing right now. She explains how capital gains work on inherited and sold property, why basis documentation matters, and why guessing tax numbers can create IRS problems later. The episode also covers Social Security withholding, the new age-based $6,000 deduction, home-sale exclusions, and rental-property recapture issues. Summary Points Dr. Friday explains that overtime tax relief applies to the overtime portion, not the entire hourly wage, and taxpayers should use employer records instead of estimates. A caller asking about an inherited property sale gets guidance on stepped-up basis at date of death, documentation options, and reporting gains on Schedule D. She notes that Tennessee residents who sell property in other states may still need to file a return in that state if taxable gain exists. Listeners are urged to review prepared returns carefully, ask line-by-line questions, and avoid ignoring IRS letters requesting support for amendments. During multiple calls, she clarifies that the age-based $6,000 amount is a deduction, not a refundable payment, and tax impact depends on income. Additional…

People in this episode

Host: Dr. Friday Burke

Topics covered

  • tax decisions
  • capital gains
  • inheritance
  • Social Security
  • deductions
  • property sales
  • IRS issues

Keywords

  • tax relief
  • stepped-up basis
  • Schedule D
  • primary-home gain
  • depreciation recapture
  • IRS letters
  • deduction

Mentioned in this episode

Places: Tennessee

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