Announcement

Collapse
No announcement yet.

Sec 1244 Stock

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Sec 1244 Stock

    An individual calculating the NOL for the year who has itemized deductions for Mortgage Interest and Real Estate Taxes, will he have to add to his negative income the itemized deductions to reduce the NOL?
    Last edited by Kara; 09-06-2007, 11:37 PM.
    Tags: None
    #2
    Mortgage interest and real estate taxes are nonbusiness expenses. In other words, you cannot increase an NOL by such expenses claimed on Schedule A.

    Comment

    Previous template Next

    Disclaimer

    Collapse

    This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

    Working...
    X