Can I deduct the loss on the sale of my time-share on my tax return?
85232
No.  It is a personal use vacation home.  The good of selling your home is the gain on primary residences are not taxed...the bad is losses are not deductible.
386836
You need to complete Schedule D along with your tax return.  List out your short term capital gain - description, date bought, date sold, sales price, cost basis and gain.  Include your long term loss carryforward on Schedule D.  Assuming no other cap gains or losses, you can then take up to $3000 of the carryfoward loss against other income on Form 1040.  That would leave you with $5000 in cap loss carryforward for 2006.
127296
You should do a schedule C - Schedule of Profit/loss from a Business.This will allow you to deduct expenses that you may have had which were related to obtaining this income.
175727
Do you use your cable for personal use or for only educational use?  If you use it for personal use, I wouldn't even bother.  It will be too much of a pain to explain to the IRS.  And, you would have to apportion personal vs. business use.\n\nHowever, if you only use it for educational use, then you could deduct it on your Schedule A if you itemize deductions as a deduction to 2% of your AGI.
842032
A transfer from share capital to accumulated losses is more than an accounting issue.  It's more a legal issue.  You will need your lawyer's assistance with this one.
1001264
If you held them for over a year, the tax rate is 15% (10% if your in the lower tax brackets)  If you held them for less than a year, the gains will be taxed at your effective tax rate.  If you have a loss, you can deduct up to 3000 per year and carry over the remaining losses to offset future gains.
172445
Usually not. As long as all the rules are followed correctly and you don't take the funds out or do some kind of prohibited transaction. Have your lawyer or CPA review th plan with you to make sure it all goes the right way.\n\nsorry for your loss.
521478
Unfortunately, you can only roll it over into another investment property (Like-kind exchange)  Applying it to your residence will not work.  You have sixty days (before or after the closing) to identify another property and 180 days to close on it.  If you held the property for investment (say yes) and held if for over 12 months, you will pay tax on it at the lower capital gains rates. If you held it for less than 12 months, it is considered ordinary income and is taxed at your regular rate.  If it is less than a year, see if the buyer will wait until the year is up.  Give them soem money back at closing to compensate them for waiting.  It could be worth your while.  To see what the tax might be, use your tax software to estimate what your tax would be.  Sorry to hear about the medical problem, I hope everything works out.  Also, ANY profit is a good profit!!!!!
909650
Yes you do. if you sold the shares and transfer the income. Also I think if you transfer the shares, as it would be treated as a sale at current market values
26432
Section 179 of the Internal Revenue Code now allows taxpayers to deduct certain capital assets such as computer costs along with software (up to $24,000 in 2004). This comes about the fast paced world of techology where technology related assets used in the business usually are outdated within one year. Thus, you can under these circumstances deduct the entire amount within the current tax period against your business income. Also, you can qualify for this deduction even if you purchase the computer on credit. If you provide more details about this question, the answer can be expanded.\n\nHope this helps.
94643
Generally, no. If you use the vehicle for business (commuting doesn't count) you can take a portion of the depreciation as a deduction.
945726
Yeah unless the money Is delt under the table. Youll have to pay a tax on it, the ammount really depends on how much youll be reiciving
733640
only if you are willing to pay lots of expensive court costs.  you can contact an attorney but it is probably cheaper to put it back on the market and take your losses.
1139919
If the loss is a capital loss, you would have a net capital loss of $2,400. You can deduct net capital losses against other income up to $3,000 per year, and carry forward any additional loss. So, in your situation you would have a $2,400 deduction.
401525
No, as long as you don't sell, there is not a taxable moment.  So, you won't have to pay tax on any gains on your stockes until you actually sell them (or transfer them to another person).
355256
At this point, no.\n\nI think your understanding of how it is handled is incorrect.   Assuming you use the house as your personal residence for two of the last five years, you can deduct up to $250k of capital gain if you file anything except MFJ.  If you file MFJ, then you can deduct up to $500k.\n\nIf your basis is $500k, file single, and sell the house for $750k, the gain isn't taxable.  Any amount over $750k would be taxed as long terms capital gains.
633721
If the partnership has stopped operating, then the depreciation should have stopped on the date the partnership ceased operations as well.  The up side to this is that your capital gain will be less when the business property is disposed.  Consult your tax advisor for more details.