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: GBT who wrote (1883)	2/15/1999 8:48:00 PM
From: LLLefty	Respond to of 5810

Does anyone here have experience with figuring depreciation on a general partnership on a race horse? Sure would like to know how it works.

To: GBT who wrote (1883)	2/15/1999 9:58:00 PM
From: Nelson Chang	Respond to of 5810

>>>Tax related question on wash sale. Is a wash sale really a problem other than the last month of the year? If you don't trade the same stock in December are wash trades relevant? <<< That's when they are most relevant but there are exceptions. Suppose you buy MSFT in Feb of last month and sold a few days later for a loss. Then you buy back MSFT in March, which is less than 30 days later, and to this day you still have the MSFT you bought in March. Then you cant report the Feb loss, even though it was way early in the year. It was a wash sale, and it just raises the cost basis of your March buy. However, if you sell the March MSFT during that year, then that wash sale is no longer relevant. Correct if I'm wrong anybody. Hope this makes sense.