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Zoey5Zoey
New Member

Purchased mortgage note sold it in 2018 for a profit. I am not sure where to post this capital gain. I bought another note in 2018. Can I deduct as business expense?

 
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ee-ea
Level 15

Purchased mortgage note sold it in 2018 for a profit. I am not sure where to post this capital gain. I bought another note in 2018. Can I deduct as business expense?

Post it like a buy and sale of a bond

You can not expense the note you purchase

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1 Reply
ee-ea
Level 15

Purchased mortgage note sold it in 2018 for a profit. I am not sure where to post this capital gain. I bought another note in 2018. Can I deduct as business expense?

Post it like a buy and sale of a bond

You can not expense the note you purchase

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