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    can you deduct the cost of an abandoned real estate development

    dkrause6
    Level 2
    ‎03-10-2021 04:07 PM
     
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    3 Comments 3
    Just-Lisa-Now-
    Level 15
    Level 15
    ‎03-10-2021 04:18 PM
    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
    ‎03-10-2021 04:20 PM

    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
    ‎03-10-2021 05:11 PM
    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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