Don't overlook these!
Updated for 2012
Personal use property includes items that you do not use for business purposes and did not acquire for investment purposes.
Although personal use assets are technically capital assets, they receive special tax treatment.
Tax treatment of personal use property:
This may not seem fair, but that's the way it is. But there is an exception.
Exception: A theft or casualty loss of personal use property is deductible.
Casualty and theft losses for personal use property are figured on Form 4684.
The deduction is taken on Schedule A (Form 1040).
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