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Investors & landlords
What specific deductions are you expecting to claim?
Purchase price was $49.9K, spent $36.2K
So your total cost basis in the property is $86.1K
sold the house complete with furnishings for $70K
So you have a $16.1K loss on the sale, assuming your cost basis includes what you paid for the furniture and other material goods included in the sale.
‎June 10, 2020
8:34 AM