Matt Whiting wrote:

Last I knew, capital losses could be deducted up to $3000/year and the
excess loss could be carried forward a number of years. I haven't
checked this lately as I haven't had the need, but I haven't heard of
this being changed.

That meets with what happened when I sold my last house. So. Does the purchase
and later sale of an aircraft fall in the capital gains/loss category?

George Patterson
Coffee is only a way of stealing time that should by rights belong to
your slightly older self.