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March 19, 2022
Question

We purchased a lot at a lake in 2008 for $115,500.We sold 2021 for $93,250.00.Is this a tax deduction such as capital loss?

  • March 19, 2022
  • 1 reply
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    1 reply

    March 20, 2022

    Yes it would be a capital loss but is not a tax deduction really.  You can use it to offset future capital gains.