My tax guy tells me I didn't get ripped off enough, so all you other nice taxpayers don't have to sh

relayer · February 3, 2006 6:35AM

Rafael Rios, fugitive from justice, ripped me off for $1,048 last year on two coins.

I wanted to deduct it from my income taxes so each US Citizen could share in my loss, but was told it had to be more than 10% of my adjusted gross income before it could be a deduction.

This year I guess I will have to try and get ripped off for more

airplanenut · February 3, 2006 6:36AM

With all of those submissions, one would think you'd have plenty of losses to deduct

Russ · February 3, 2006 6:39AM

<< With all of those submissions, one would think you'd have plenty of losses to deduct >>

That was very cruel.

Russ, NCNE

OKbustchaser · February 3, 2006 6:47AM

<< Rafael Rios, fugitive from justice, ripped me off for $1,048 last year on two coins.

I wanted to deduct it from my income taxes so each US Citizen could share in my loss, but was told it had to be more than 10% of my adjusted gross income before it could be a deduction.

This year I guess I will have to try and get ripped off for more

>>

No, just make less income.

relayer · February 3, 2006 7:03AM

<< With all of those submissions, one would think you'd have plenty of losses to deduct

>>

I view those as gambling losses - and they're only deductable against any winnings

Coinhusker1 · February 3, 2006 7:09AM

Ask you tax guy if you can classify it as an "investment expense"

MadMarty · February 3, 2006 7:16AM

<< 

<< With all of those submissions, one would think you'd have plenty of losses to deduct

>>

I view those as gambling losses - and they're only deductable against any winnings

>>

So I guess you won't be able to deduct them at all then!!!

relayer · February 3, 2006 7:35AM

<< 

<< 

<< With all of those submissions, one would think you'd have plenty of losses to deduct

>>

I view those as gambling losses - and they're only deductable against any winnings

>>

So I guess you won't be able to deduct them at all then!!!

>>

Just so you and Russ won't feel left out ---

and

roadrunner · February 3, 2006 10:34AM

If your coins are for investment purposes as well you should be able to deduct that $1048 against any profits. If you don't have that amount in profits, it can be carried forward to future years as well.
And if you don't report anything ever, well then that's that.

roadrunner

Lakesammman · February 3, 2006 11:13AM

Get a more agressive tax guy.

robertpr · February 3, 2006 11:32AM

So if you make less than ten percent of your income in profits then you don't have to pay taxes on that either right?

My tax guy tells me I didn't get ripped off enough, so all you other nice taxpayers don't have to sh

Comments

Leave a Comment