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Can a property owned and lived in for less than 2 years be considered a business sale so the Loss can be used?

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last updated ‎December 07, 2019 5:24 AM

The property was not rented.  Client lived there for 1.75 year.

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Level 15
last updated ‎December 07, 2019 5:24 AM

NO

(I'm going with the succinct answer)

Former Chump... umm.... AllStar.
If a post answers your question, click on *Accept as solution* for future searches

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Level 15
last updated ‎December 07, 2019 5:24 AM

NO

(I'm going with the succinct answer)

Former Chump... umm.... AllStar.
If a post answers your question, click on *Accept as solution* for future searches

View solution in original post

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Level 15
Level 15
last updated ‎December 07, 2019 5:24 AM

You cant just call something a business...what was the property used for? 


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Level 15
last updated ‎December 07, 2019 5:24 AM
Sounds like they just lived in it, but too short of a period to get the exclusion.
ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Level 15
Level 15
last updated ‎December 07, 2019 5:24 AM
you'd only need an exclusion if there was a profit...looks like someone is trying to get some losses?  this post makes little sense.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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