Barbra Streisand Takes A $1.3 Million Bath. But Not The Good Kind Of Bath

Count Barbra Streisand among the many victims of the global financial meltdown.

Internal Revenue Service records show that the Hollywood star’s charitable foundation saw its investment portfolio take a whopping $1.3 million hit as a result of the Wall Street collapse. The Barbra Streisand Foundation disclosed its loss in IRS documents filed earlier this year (the tax return covers calendar year 2008, the most recent period for which Streisand has provided a financial accounting).

The bulk of the loss came from two equity funds, though the star’s foundation did take a $160,000 bath on Ford Motor Credit notes.

By comparison, Michael Douglas’s foundation took a minor hit. The actor’s Fund for the Future reported a $257,866 stock market loss on its tax return covering the fiscal year ending March 31, 2009.

Douglas, reprising his role as arbitrage king Gordon Gekko, is starring in the sequel to Oliver Stone’s “Wall Street,” which opens in September.