8/18 I purchased 1000 shares for $8000. Now it's worth $4000
If I sell now, can I deduct the $4000 loss and commissions from
my ordinary income for state/federal taxes? So it's as if I earned
$86000 instead of $90000?
\_ No, that's not how it works ... it is more complicated and
potentially a lot more complicated.
\_ If this is the only complication in your taxes you need not get a
consultant. You can deduct 3000 from your salary and carry over
the 1000 to use next year. (As if you earned 87000).
Get Turbo Tax and it will tell you.
\_ See an accountant or tax consultant already. If you're too cheap,
read the tax code yourself. This isn't rocket science and the
motd isn't here to coddle you. --dim
\_ If this is the only complication in your taxes you need not get a
consultant. The motd *is* here to coddle you. You can deduct 3000
from your salary and carry over the 1000 to use next year. (As if
you earned 87000). Get Turbo Tax and it will tell you.
\_ I heard they are upping it from $3K to $22K
\_ linkP?
\_ Sort of a metaquestion, then?
\_ does this have anything to do with bush being in office
or am i way off here.
\_ if so, i'm with bush all the way
\_ Yes, it does. It's to soften the blow for everyone who
got smashed in 2000-2001 in the market which is mostly
the middle class.
\_ Evil republican tax-cuts, give the difference to
the DNC on their website. I donated my 300$ tax
rebate.
\_This is a joke right? The tax rebate was stupid
but not near as stupid as donating it to the DNC
\_ And how, pray tell, are we going to make up the billions
less in taxes the feds take in? Reduce unemployment benefits?
\_ Gee, I dunno, cut spending - whoda thunk? No more
free sex changes, 50 million $ grants to study cow
and pig farts, no more UN dues, no more bailing
out Southest east asia, mexico and central asia to
the tune of 30 billion a pop, no benefits for
illegals. Seems easy enough to me.
Not the the budget has ever been balanced, they are
spending Social Security receipts.
\- what about getting rid of home mortgage deductions? |