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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Kaye Thomas who wrote (2283)	8/18/1999 4:45:00 AM
From: CrazyRay	Respond to of 5810

I purchased a computer this year for home use. I use it for investing(60%), employer work(30%), and misc(10%). I am interested in a tax deduction with respect to my investing. I perform between 30 and 100 trades a year. I do not have trader status (e.g., I use sched. D). Can I expense or deduct it on my taxes? Would this be on schedule A or B (I currently dont use B). Does it have to be depreciated over <n> years? Any info is appreciated! Thanks, Ray

To: Kaye Thomas who wrote (2283)	9/14/1999 6:50:00 PM
From: Richard Forsythe	Read Replies (1) \| Respond to of 5810

Hi Kaye, Was wondering if selling BRK.B and buying BRK.A would be covered as a wash sale of the Bs. Your wonderful site says: Sometimes people want to play games with this rule. You may own stock in a company that's about to be acquired by Bigco. Just before the merger you sell your stock and buy shares of Bigco ? shares you would have received in the merger if you hadn't sold your original shares. If you're thinking this isn't a wash sale because you bought shares in a different company, you're wrong. The rule about stock in different companies not being substantially identical isn't hard and fast. If two different stocks are linked together in such a way that any change in the price of one will be reflected in the price of another, they're likely to be treated as substantially identical securities for purposes of the wash sale rule. This suggests that the sell B/buy A would NOT avoid wash rules. Correct? What are the references in the tax code on this? Richard