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can you deduct the cost of an abandoned real estate development

dkrause6
Level 2
 
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3 Replies 3
Just-Lisa-Now-
Level 15
Level 15
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♥¸¸.•*¨*•♫♪
dkrause6
Level 2

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

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Just-Lisa-Now-
Level 15
Level 15
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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