"john smith" wrote:
Last I knew, capital losses could be deducted up to $3000/year

That meets with what happened when I sold my last house. So. Does
the
purchase and later sale of an aircraft fall in the capital
gains/loss
category?

If you perform an annual and your mechanic tells you you need $xxxx
worth of repairs, can you write that off as a capital loss until you
make the necessary improvements?

Whether a personal residence, or aircraft for personal use, no losses
(except for casualty loss) are ever allowed.

Fred F.