> Thank goodness those losses are tax deductible eh Tim?
If they are claiming a tax-deductible loss based on that financial logic then they are committing tax fraud.
(My new company, that I'm about to set up, will charge $1m for a plastic toy boat. But when I sell them on eBay the bidding will only get to $1 so I'm going to claim the $999,999 difference as a loss and try and claim back tax, that I haven't paid. Unlikely to work.)