Show TRADERS STUDY OUT INCOME TAX KINKS By FRANK II H McCONNELL Associated Press Financial Editor NEW YORK Dec 13 13 P W-A W A canvass canvass can can- vass of Wall street brokerage offices indicates that while many active stock traders will not be able this year to establish Income tax reductions through selling stocks there has been some such selling by term long holders holders hold hold- ers of securities One brokerage office customer explained explained ex ex- his t tax x on 1932 income would approximate The broker anc and customer went over his stock holdings holdings holdings hold hold- ings of two years or longer and found enough shares in this category calegory to be liquidated and tax loss established virtually to erase this tax An investment organization which handles considerable business for larger investors has prepared n a table stable based on a personal exemption of 2500 for the security holder which shows what loss of principal is necessary necessary sary SUY under the 1932 revenue act to offset taxes in varying amounts On incomes from to annually this table shows that a dol- dol for dollar loss of principal against income Is s necessary to erase crase the tax But from that point on on the tax rate stiffens and correspondingly larger losses of principal are made sary Only In the ca case c of securities held more than two years does docs the of capital loss deduction apply apPl Trading losses suffered during the l current year can be written of oU off In an amount equivalent only to a sc security profit established in other security dealings WHAT STOCKS DID Tues Thes Mon Advances i Declines Unchanged Total Issues traded |