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?