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Does my condo sale qualify as an investment transaction?
I purchased the condo apartment in 2007 and sold it in 2016 at a loss. I never lived in or used the condo for personal use, but I did extensive remodeling which I thought would make it more valuable when I sold it However, the housing market did not recover enough and I had to sell it at a loss. I want to report this sale as an investment property loss. Will this pass IRS review?
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May 31, 2019
10:47 PM