He sold business in 2013 and received no compensation for improvements. Can he take a loss on the undepreciated amounts?
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Are we in the twilight zone?
Why ask about 2012 NOW ??
Are we in the twilight zone?
Why ask about 2012 NOW ??
If he sold the business in 2013 he would have a loss in that year equal to the remaining basis. I assume you are now working on his 2013 return rather than a 2017 or 18 return?
LHI's are generally MACRS 39 year property. My memory about 2012 is hazy, but I don't *think* § 179 or bonus was available.
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