Updated about 10 years ago on .
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Last min purchase to offset short term gains?
I have a commercial property for sale that will likely net $70k in short term profits. I will do my best to close on the one year + one day mark but that is four months away. I would love any advice on reducing my tax burden. I know how vehicles write-offs work with depreciation and leases write-offs. What I don't know is can I purchase a vehicle for this one property between now and the sale date, then write off the entire amount when the building is sold? I own other properties if that makes a difference.