Military Officer - December 2006 - (Page 25)

rapidfire NutritionNotes Gobble It Up! H Capital Gains I f you deferred capital gains under pre-1997 home sale rules, which allowed homeowners to defer gain on the sale of a principal residence if they bought a more expensive replacement home within two years of the sale and provided for a one-time exclusion after age 55 for up to $125,000 in accumulated deferred gains, beware a tax trap. New rules allow an exclusion of up to $500,000 on the sale of a primary residence for married couples ($250,000 for singles). But if you deferred gains under the pre-1997 rules, you must reduce the cost basis of your current home by the deferred amount. For instance, if you accumulated $150,000 in pre-1997 deferred gains, bought your current home in 1996 for $250,000, and made $50,000 in home improvements, you might expect a $300,000 ($250,000+$50,000) basis. But you must reduce your basis by $150,000 (deferred pre-1997 gains), resulting in an actual basis of $150,000 ($300,000$150,000). Selling the property for more than $650,000 would result in an unwelcome capital gains surprise. igh-protein, low-fat foods should be a part of everyone’s diet. One often-neglected option is ground turkey. Grilled, broiled, or panfried, turkey makes excellent patties. Coupled with sliced tomatoes and a few leaves of lettuce, you have a great burger. Before cooking, a 4-ounce turkey burger has only 160 calories with 8 grams of fat. However, if you make the patties thin, much of the fat cooks out. To remove even more of the fat, you can drain the patties on a paper towel after they are cooked. Read labels when selecting ground turkey. Fat contents vary, but all is relatively lean. Choose between breast meat or dark meat. Some people prefer the dark meat because it has a little more ﬂavor. Ground turkey comes in bulk or ready-made patties. One convenient option is to buy several pounds of ground turkey, make patties, and thoroughly cook them. The cooked patties can be frozen, packing several into a ziplock bag. When you are ready to eat them, remove the patties from the freezer, cook for about one minute each in the microwave, and serve. They are versatile and can be used for many ON THE WEB meals that can be prepared ■ For recipes using frozen in ﬁve minutes or less cooked turkey burgers or — hamburgers, barbeque, ground turkey, visit www.moaa .org and click on Health and pizza toppings, chili, tacos, Wellness under Services. and macaroni casserole. Miscellany: Scholarships and a Sister Study END-OF-YEAR GIVING: All charitable, tax-deductible contributions to The Scholarship Fund of MOAA help children of military officers and enlisted personnel achieve their educational goals. To learn more, call MOAA’s Capt. Shelley Marshall, USN-Ret., at (800) 234-6622, ext. 169, or e-mail her at shelleym@moaa.org. * BREAST CANCER RESEARCH: Sister Study is recruiting up to 50,000 sisters of women who have been diagnosed with breast cancer for a 10-year study. To read participation guidelines, visit www.sisterstudy.org/eng lish/index1.htm or call (877) 474-7837 toll-free. IMAGES: CLOCKWISE FROM TOP LEFT: JOHN KNILL/GETTY IMAGES; PUNCHSTOCK; JIM SCHERER/GETTY IMAGES DECEMBER 2006 * MILITARY OFFICER 25 http://www.moaa.org http://www.sisterstudy.org/english/index1.htm http://www.sisterstudy.org/english/index1.htm

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Military Officer - December 2006

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