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Microcap & Penny Stocks : STREAMLOGIC CORP (STLC)- This stock is going to fly! -- Ignore unavailable to you. Want to Upgrade?


To: Jerry Ciotola who wrote (2719)3/16/1998 8:09:00 PM
From: Swamy S . Bale  Read Replies (1) | Respond to of 2840
 
I just read the publication 526 (charitable deductions). It says
deductions should be done on your basis not on fair market value.

Please refer to page 8. There is an example about stock which has a
FMV of $1000, but your basis is $800(which costs you). You cannot
deduct for FMV if there is an appreciation of $200. I believe it
is same thing if your stock has tanked.

Swamy