Sentences with phrase «take ordinary losses»

Upon ultimate sale of the investment, you take ordinary losses which were generated by the depreciation of the property, and when the depreciation is recaptured it's triggered as a capital gain.

There is something called the trader designation in the IRS, and I won't get into all of that right now, but if you do a lot of trading, you might qualify for that which can allow you to take some ordinary losses on these types of things — if you have losses.

Not exact matches

Silver lining: by virtue of having renters in place before the local market went further south (when hospital closed), we were able to take a substantial ordinary loss on last year's tax return.

Politically aware theologians (and many ordinary believers) find themselves caught between trusting in this assurance — and so taking no political action — or taking action based on what seems to be a loss of faith in God.

Vitakor diet pills is not your ordinary weight loss supplement that you can take 2 to 3 times a day and expect your body to burn fat.

The picture addresses the ways in which an ordinary working - class family, poleaxed by the arbitrariness of their orphaning (the father has died from an allergic reaction to a bee sting), takes on the burden of grief and regret in the wake of intolerable loss.

If you have more losses than gains, the IRS says you can take another $ 3,000 against ordinary income, like salaries and pensions and so forth.

I replied, «Under ordinary circumstances, I would agree, but the reinsurer has taken a significant loss from this treaty.»

Once you sell the holding, you have realized the loss, which enables you to take advantage of the tax laws and deduct those losses, first against any gains in your account (s), and then at a rate of $ 3,000 per year against ordinary income.

Therefore, the charterers were taken to have had in contemplation, at the time when they entered into the addendum, the loss which would generally happen in the ordinary course of things if the vessel were delivered some nine days late so that the owners missed the cancelling date for a follow - on fixture.

If taking the depreciation deduction gives you a net rental loss on paper, you can use your rental losses (up to $ 25K) to shelter your other ordinary income from taxes.