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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?


To: Pogeu Mahone who wrote (108226)3/6/2008 3:14:18 PM
From: Travis_BickleRespond to of 306849
 
The law says you can't ... I imagine the rationale was that it is not property held for investment.

When I traded in my last car I got $6k for it, cost me $25k, it is a capital asset, why can't I deduct $19k? Cause it's not property held for investment.

A vintage Cobra on the other hand might be deductible if you took a loss if you didn't drive it much ...