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Can I deduct a loss incurred in a failed real estate property purchase transaction? Where?
I attempted to purchase a rental property in 2015 but had to forfeit my good faith deposit when the cost of the rehab work necessary to make it rentable just didn't pencil out. I believe I can deduct that loss, and forgot to then, so I'm now preparing an amendment to my 2015 taxes. How do I declare this loss?
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‎June 4, 2019
7:51 PM