Capital Gains on muscle car (state of PA)

#24

03-20-2008, 08:48 PM

Zedder Zedder is offline

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Re: Capital Gains on muscle car (state of PA)

In general, as a private individual, only gains on capital property are assessed with respect to tax. Each piece of capital property is treated individually and gains/losses cannot be accumulated and taxed as a whole like a business or investment. This is why you cannot write off the losses on your daily driver...

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