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

To: Colin Cody who wrote (1497)	11/18/1998 11:54:00 AM
From: sailor	Respond to of 5810

1031 Exchange Has anyone ever done a 1031 exchange (generally used for real estate) to exchange rental real estate for a chartered out boat? I know the IRS says like property but I don't know how far we can stretch it. Sailor

To: Colin Cody who wrote (1497)	11/18/1998 12:34:00 PM
From: WallStBum	Read Replies (1) \| Respond to of 5810

Colin: question from client, can he make Jan AND Feb mortage pymts in Dec for extra interest deduction. Many make Jan, but I've never heard people making more than that. thanks dax

To: Colin Cody who wrote (1497)	11/18/1998 3:31:00 PM
From: Cents	Read Replies (2) \| Respond to of 5810

Colin, the unrealized loss is a total loss. The stock is pennies now. Can I just hold onto it with the possibility of it being worth more someday? I anticipate being in a higher tax bracket in a few years due to double income instead of one. Won't this loss have more of an effect to reduce gross income at that time? My main reason for dumping this stock is to clean out my portfolio and erase any reminder of my experience with bulletin board stocks. It's true what they say about bulletin board stocks....they all sound too good to be true and are very risky!