Aircraft tax question
On Sat, 03 Dec 2005 02:46:13 GMT, George Patterson
wrote:
TaxSrv wrote:
Whether a personal residence, or aircraft for personal use, no losses
(except for casualty loss) are ever allowed.
For whatever reason, I got a $3,000 capital loss deduction when I sold that
house. I don't remember what tax package I used that year.
There is no question that capital losses on personal property used for
personal purposes are not deductible.
Was the house used solely as a personal residence?
If not, I will guess that either the s/w was wrong or the user made a data
entry error. Perhaps GIGO at work?
Ron (EPM) (N5843Q, Mooney M20E) (CP, ASEL, ASES, IA)
|