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#24
03-20-2008, 09:48 PM
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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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Mark 
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