Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Brendan W who wrote (523)	1/29/1998 9:25:00 AM
From: Terry Lyon	Read Replies (1) \| Respond to of 5810

Thanks Walt and Joel. Your comments are very helply. Also I presume that I need to do these calculations segrating long-term (greater than 1 year) from short-term (less than one year) sales. I plan to create either a blank data entry form to keep track of this information or create a computer spreadsheet file. I obtained a copy of such a form from the IRS but it still does not make any sense to me. I have a couple more questions which you may be able to help me with: 1. I have heard that losses are limited to $3,000 per year. Is this correct? So therefore any difference greater than $3,000 must be applied in following years? 2. I may retire from my current job in a couple of years and plan to travel to visit companies that I may subsequently invest in or have already invested in. Are travel expenses while conducting investment research tax deductible and what IRS forms and guidance should I seek? Thanks Again, Terry