(MONEY Magazine) – Q. If I buy an advertised list of foreclosure properties for $49.99, will I get valid information on real homes? CHERYL DACEY ADDRESS WITHHELD

A. Probably, but why pay for what you can get for free? Your county courthouse and many local banks have free lists of homes scheduled for foreclosure. Since this process can take anywhere from two to 12 months (depending on the state), you may want to consider property that has already been through foreclosure and is now owned by the lender, the investor or the mortgage insurance company. Many realtors list these so-called real-estate-owned properties or REOs.

You can also get free foreclosure and REO listings on four websites: www.e4close.com, www.homesteps.com, www.hud.gov/buyhudhm.html and www.fanniemae.com.

But buyer beware: Foreclosed properties often need repairs, and you should double-check to make sure there are no outstanding tax liens.

Q. Recently a friend and I pooled resources to go into a private offering that required a $5,000 minimum investment. However, just one name could appear on the certificate, and we used my friend's name. If the company goes public and we sell the stock, how do we handle the tax consequences? MICHAEL NARDONE PUTNAM VALLEY, N.Y.

A. Assuming that you sell the stock with a broker, the brokerage will send out two Form 1099Bs--one to the person whose name is on the certificate and the other to the IRS. According to Jo Ames, senior tax manager at the accounting firm Ernst & Young, each of you must enter your half of the gain on your federal tax return. Your friend must also attach a statement that explains where the other half of the gain--your half--will be reported. This attachment should include your name and Social Security number.

Q. Where can you go on the Web to find news about stock splits? MARIE LEE MISSISSAUGA, ONTARIO

A. Several Web-based newsletters predict when companies are going to announce stock splits. Among them: www.rightline.net, www.splitpredict.com, www.stocksplits.net and www.2-for-1.com. You can purchase an online version or receive your issues via snail mail or e-mail. Fees range from $30 for three months to $50 a month.

Q. My wife and I moved from Florida (where there is no state income tax) to Ohio (which has a state income tax). I work in Ohio and my wife works for her Florida employer from our Ohio home. Do we both have to pay Ohio state income taxes? NEIL PERAZA CINCINNATI

A. You sure do. As Ohio residents, you will both owe Ohio state income taxes. Your state calculations are based on your federal adjusted gross income.

Q. My husband is a firefighter who works on shifts that can run 24 hours or longer. Since he can't come home to eat, can he deduct his meals on his federal income tax returns? SANDY COWART ADAIRSVILLE, GA.

A. Unfortunately, he cannot write off meals consumed during his regular shifts or even when he works overtime. However, he may deduct meals that he pays for but does not get to eat because duty calls, explains C.P.A. Ed Slott. To compensate our hungry heroes, the tax code allows firefighters to claim "destroyed meals" as a miscellaneous itemized deduction on their federal tax returns.

REPORTER ASSOCIATE: Judy Feldman