The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Sold house for a loss||Date: 3/8/2009 7:13 PM|
|Author: stockmover||Number: 105030 of 125861|
"It is too bad our tax laws are so complicated."
Yep like Phil has often said, "you can't apply logic when it comes to the IRS/Congress laws and regulations etc.
It's the same thing with gambling losses where the losses can only be deducted to the extent of your winnings .. in other words nada, zilch NOTHING !!! unless I guess you are a professional gambler and report it as a business expense on SCH C ..... but I am not even positive about that?
Best Regards Razz
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