Newspaper article The Topeka Capital-Journal

Question of Deduction Best Addressed to IRS

Newspaper article The Topeka Capital-Journal

Question of Deduction Best Addressed to IRS

Article excerpt

Dear Bruce: How do you deduct time-sharing as a loss on your taxes? -- Reader

Dear Reader: I don't know that you can deduct time-sharing as a loss. It may be that it will be a capital gain loss, but that's a question for the IRS. I have heard several different answers to this question, so I can't quote anybody.

There is at least a pretty strong thought on this subject that a time-sharing loss is just that -- a loss -- and cannot be deducted. But it would make a lot of people happy if it were deductible since there are so many of these.

Dear Bruce: A consequence of our $15-per-hour wage and health care mandates for restaurant workers is diners skipping out on their meals by claiming they lost their credit cards or some other excuse. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.