AnnetteB6
Expert Alumni

Deductions & credits

No, interest and related loan fees cannot be added to the basis of the property.  See IRS Publication 551 (pages 2 and 3) to learn more.  

 

Yes, if you have capital gains reported on your 2022 return that exceed the capital loss, then the loss will be used to fully offset the gains.  

 

@Snipsnap1 

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