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dkrause6
Level 2
March 10, 2021
Question

can you deduct the cost of an abandoned real estate development

  • March 10, 2021
  • 3 replies
  • 13 views
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3 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
March 10, 2021
well, youd have your basis (what you paid for it) and if you get a big fat zero out of it, woudnt you have a loss to deduct?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    D
    dkrause6Author
    Level 2
    March 10, 2021

    Sorry, I was looking at it as ordinary (with rental activities) or as capital?

    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    March 10, 2021
    maybe we need more information ...was this a rental property for a period of time or just real estate that you bought as an investment and never did anything with?
    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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