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Loss of value on land.

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    #1

    Loss of value on land.

    If a piece of property has become worthless can you write it off.
    Tags: None
    #2
    How did you come up with that its worth nothing at all?

    I would not list as such until its sold.

    Chris

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      #3
      Land is never worthless. Have you had it appraised and it shows a $0.00 value?
      Jiggers, EA

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        #4
        Far more important than whether the land is completely worthless or only nearly worthless, is what the use of the land was, and its basis. Personal, investment, or business use? But the person posting the question, a first timer to the forum, is silent for now.
        "You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard

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          #5
          Originally posted by Rapid Robert View Post
          Far more important than whether the land is completely worthless or only nearly worthless, is what the use of the land was, and its basis. Personal, investment, or business use? But the person posting the question, a first timer to the forum, is silent for now.
          Very good reply post
          Always cite your source for support to defend your opinion

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