Updated over 5 years ago on . Most recent reply

Deduct costs spent on investment property that didnt close?
hi all
I have an investment property under contract. It all has been going smoothly, but to make a long story short. Its starting to go south. I spent about 1.5k between dd, etc.
My question is If i terminate i believe i can writeoff the loss?
I have a few rentals that all are in my name and not in an llc, but this property is under contract as an investment (not primary or secondary)
Appreciate the help, as ive terminated on primary residences, but havent on an investment before