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re: Capital gains question on real estate
Posted on 4/26/24 at 8:59 pm to horsesandbulls
Posted on 4/26/24 at 8:59 pm to horsesandbulls
You can deduct any investment $ put towards it construction wise as well.
I'm selling 480. Owe 90k loan, 35k closing, and 120k invested into it all get deducted, for 235k gain. I'm just under it on my end
I'm selling 480. Owe 90k loan, 35k closing, and 120k invested into it all get deducted, for 235k gain. I'm just under it on my end
1
Posted on 4/26/24 at 9:08 pm to tgdk11
Yes, you increased your basis in the property.
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