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April 29, 2022
Question

Golf Membership Capitl Loss?

  • April 29, 2022
  • 1 reply
  • 0 views

“Can a golf club membership which was purchased as an investment without it being attached to a real property homesite lot within the development, which subsequently then was attached when a lot was purchased, be written off as a long term capital loss when the lot subsequently is sold without the membership (since by club rule memberships cannot be sold), thereby essentially making the membership worthless?”

1 reply

Critter-3
April 29, 2022

No ... you gave your own answer.   You bought a membership that cannot be sold or transferred so you sold nothing.