I harp about the devil being in the details right now but for a stock like BAC its just driven by sentiment right now. There’s no one in the world that really has a handle on how much they may or may not earn so the issue of dilution is largely irrelevant. Its all about the balance sheet right now.
well if it is capital investment than the write off only comes after you sell when you add the investment to your basis in your home.. If it is a rental than you can deduct it on schedule E as a expense from your rentals…
HOBOKEN…how long does the tax loss carryforward last on reported long term securites holdings?? The one that is limited to $3,000 per year. I forgot to ask my accountant. Do those losses last foreever against future gain or do they have some “life”
Yes, HOBOKEN…and you can write off every purchase of anything you make at a hardware store, HD or Lowes as part of the capital investment in your house or as capital/expense with a rental unit.
Yes, capital investments are only realized upon sale.
“I can answer some tax questions if people like..”
I’m glad to see we’re so on top of things…..should of had this discussion prior to April 15th.
“BRG, if we got together, you’d be the only one cheating! LOL”
Technically, I won’t be. As hubby is well aware.
Did you ever to to Century? I want to go and look at their light blankets. I need one for the summer.
I harp about the devil being in the details right now but for a stock like BAC its just driven by sentiment right now. There’s no one in the world that really has a handle on how much they may or may not earn so the issue of dilution is largely irrelevant. Its all about the balance sheet right now.
well if it is capital investment than the write off only comes after you sell when you add the investment to your basis in your home.. If it is a rental than you can deduct it on schedule E as a expense from your rentals…
Are there going to be stimulus checks issued this year or has it not been decided yet?
HOBOKEN…how long does the tax loss carryforward last on reported long term securites holdings?? The one that is limited to $3,000 per year. I forgot to ask my accountant. Do those losses last foreever against future gain or do they have some “life”
M4L, we are almost there…just a few more tweaks 🙂
Yes, HOBOKEN…and you can write off every purchase of anything you make at a hardware store, HD or Lowes as part of the capital investment in your house or as capital/expense with a rental unit.
BRG, if we got together, you’d be the only one cheating! LOL