Registered: Oct 2006
11-25-06 11:52 AM
Quote from OldTrader:
Just thought I'd mention that a loss on a personal residence is NOT tax deductible.
Oh damn, you have a point here. I guess I'm going to have to go to tax jail. There has just got to be a free lunch and a place to stay in this deal somewhere.
When I get out of jail, then, I'll take the tax write off for the loss of business income to my sole proprietorship, get a small distressed business loan, sign up for a jobs retraining package and get a new company car first-year tax depreciation and start up over again. Ah, the American Dream - what a country!