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IRS Hell
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[QUOTE]Originally posted by Purl Gurl: [QB] Nah, we cannot declare that piece of sh*t a loss, not until sold. You can show GVRP on your purchase side of your balance sheet for one year to help show a net loss for the year, but this will toss it into "long term" and will have to be reported, eventually. You cannot declare GVRP a one time, one year loss until we can get rid that crap. IRS scares the crap out of me, and I do not scare easily. The IRS has ultimate power. You are truly at their mercy. [/QB][/QUOTE]
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