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From: ddc@pyuxbb.UUCP (DD Choo)
Newsgroups: net.taxes
Subject: more deduction than income?
Message-ID: <354@pyuxbb.UUCP>
Date: Tue, 31-Jan-84 11:18:53 EST
Article-I.D.: pyuxbb.354
Posted: Tue Jan 31 11:18:53 1984
Date-Received: Tue, 7-Feb-84 05:12:06 EST
Organization: AT&T Bell Laboratories, Piscataway
Lines: 9

Can you deduct more than what you earn?
As a specific example, if someone earns $1000
and puts the entire money in an IRA account, 
can he/she still deduct some more (say $300)
for the depreciation of an item that was needed 
for doing business?
My guess is that you can, since I hear that a
business loss is compesated in part by a tax break.
I will appreciate any comments.