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IRS: 'Hobby Loss' deduction ?

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Hi,
Wondering in the Schedule A, there is a 'Hobby Loss' that is deductible, and wondering if I buy a piece of audio equipment for $2000, sold it for $1000, I can declare a 'hobby loss' of $1000 ?


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Topic - IRS: 'Hobby Loss' deduction ? - Busybusy 14:25:11 04/05/01 (11)


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