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Personal Loss on Land with Shed

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    Personal Loss on Land with Shed

    Seems like most people buy land for an investment and personal use. I usually let the client tell me how they use it and go from there. I have a pretty big loss because of quick sell and would like to take it as a loss, but gut tells me personal.

    So much of this in interpretation.

    There really are not cut and dry rules on this. Any feed back would be appreciated.

    #2
    Shed or rustic tiny home? You can separate the shed but loss on the land is limited to $3k per year especially if this was a one time transaction.
    "Dude, you are correct" Rapid Robert

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