Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.1 ggr 10/28/83; site pyuxbb.UUCP Path: utzoo!watmath!clyde!floyd!harpo!ihnp4!pyuxbb!ddc 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.