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

To: Nelson Chang who wrote (2188)	5/7/1999 9:26:00 PM
From: J R KARY	Read Replies (1) \| Respond to of 5810

Sorry Nelson but I can't resist .. "keep trading" .. it will lower your taxes As an aside , one year I had huge cap gains in 4Q and owed substantial taxes . In the following 1Q my prime holding consisting of conv. bonds , warrants , and stock , leveraged by both bank loans and margin , was suspended from trading and valued as worthless . I had to borrow at usury rates to pay the taxes and it took 5 years to pay off the loans . The annual cap loss credit carry forward was good for 5 more lifetimes and was worthless to me . After a while I re-entered the market with business profits and recovered most of my losses but the thrill of my initial success was gone . The first experience was a bad memory . I recall asking myself why , when I had the loot , didn't I pay off the house mortgage and bury some money in the back yard . I am in my third investment cycle now . I am more realistic now after being humbled so in my 1st "midas" quest . My 3rd quest includes finding a larger can to bury the money . Continued good luck, Jim K.