gjgcary
Level 1
03-31-2024
01:21 AM
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I AGREE, BUT IF I ALLOCATE ZERO OF SALE TO IMPROVEMENTS MADE THIS YEAR, THE LOSS APPEARS IN THE LESS THAN A YEAR SECTION OF 4797 AND CARRIES TO ORDINARY INCOME SECTION OF 1040 AND TAXES ARE MUCH LESS. WHAT AM I DOING WRONG? THE 4797 DOES NOT SEEM TO DIRECT ME TO OFFSET GAIN OF THE MAIN RENTAL ASSET.