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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: WPC9999 who wrote (704)	2/13/1999 10:55:00 PM
From: Colin Cody	Read Replies (2) \| Respond to of 1383

Books are deducted differently if you are an INVESTOR or a TRADER STATUS taxpayer. Additionally Books are capitalized or expenses depending on their PRICE. A $59 book is deminimus and is expenseable in the opinion of many tax advisors. Whereas a newly acquired LIBRARY of 20 technical reference books that cost say $2,000, has a useful life in excess of one year and is material enough to be capitalized. Once capitalized the tax deduction is recognized differently for INVESTORS and TRADERS. Colin