[YENKO DEUCE REGISTRY]

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Marlin, I researched this in 2005 and, in Ontario, there is a clear distinction between losses from capital assets and other "investments". Losses from CA's cannot be deducted against other gains up here. Is this not the case in the US? And if not, why can't one deduct the losses incurred on a daily driver since it is a capital asset also???

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Let's not mix Canadian Provincial Tax Law with the US IRC - the IRC is confusing enough! However, you make a valid point about mixing cap gains on assets vs. investments. I think I stated in my initial explanation that cap assets are tangible personal property (including your 'daily driver'). Commercial paper (ie; investments) are not really considered 'tangible', and are therefore treated differently in the U.S. and apparently in Canada as well.

Chuck,

I purposely used the word 'may' to indicate the possibility of a carryforward of cap losses. I can check into it more if you'd like, I have the IRC publication around here somewhere.....