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jrec2
New Member

I sold a piece of vacant property in 2023, we paid the real estate cost and received a net amount, can I deduct the cost of sale

 
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1 Reply
ee-ea
Level 15

I sold a piece of vacant property in 2023, we paid the real estate cost and received a net amount, can I deduct the cost of sale

Add cost of sale to basis when computing capital gain or loss.

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