TITLE

Practitioner's TAXTIP

PUB. DATE
April 2009
SOURCE
National Public Accountant;Apr/May2009, Vol. 8 Issue 2, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article offers tips from the author on business or rental use conversion of homes that have decreased in value in 2009. It says that if a real estate property is rented out or used for business, the loss of value can be tax-deducted even when the property is sold at a lower price as compared when it was acquired. It adds that when a property is used to produce income, depreciation and loss deduction value can be claimed to lower taxes.
ACCESSION #
70121401

 

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