Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.1 6/24/83; site whuxj.UUCP Path: utzoo!watmath!clyde!burl!hou3c!hocda!houxm!whuxj!wjm From: wjm@whuxj.UUCP (MITCHELL) Newsgroups: net.taxes Subject: Re: Investment Losses Message-ID: <99@whuxj.UUCP> Date: Thu, 2-Feb-84 11:01:33 EST Article-I.D.: whuxj.99 Posted: Thu Feb 2 11:01:33 1984 Date-Received: Wed, 8-Feb-84 00:45:02 EST Organization: Bell Labs, Whippany, N.J. Lines: 11 You can deduct losses from INVESTMENT property (i.e. stocks, bonds, metals, etc.) on Schedule D of Form 1040. It may be a long or short term capita loss depending on the holding period (1 year for most things, but there are some exceptions - e.g. 6 months for commodities). The maximum loss you can deduct in any one year is $3,000. but you can carry the unused excess forward to other years. Losses on personal property are NOT deductable (although gains on these items are taxable income). For more information, get a good tax guide (see my next article). Bill Mitchell CSO Whippany, NJ (whuxj!wjm)