Re:Investors bought a quarter of US homes sold last year
by bombcar on Tuesday August 23, 2022 @05:10PM
(#32571561)
Was it a paper loss or an actual loss?
I.e, did you buy for $200k and sell for $130, or had you bought for $200k and sold for $330 which was $70k under the current market value?
The latter isn't a loss; and likely wouldn't be even for a corporation. You'd have to sell at full value and donate the $70k or something to get it to "work".
Amusingly enough, if one of the 87k IRS agents hears about it, they could go after the deserving family for taxes on the $70k windfall they got (though this one is really hard to prove, they will do it on forgiven loans).
I.e, did you buy for $200k and sell for $130, or had you bought for $200k and sold for $330 which was $70k under the current market value?
The latter isn't a loss; and likely wouldn't be even for a corporation. You'd have to sell at full value and donate the $70k or something to get it to "work".
Amusingly enough, if one of the 87k IRS agents hears about it, they could go after the deserving family for taxes on the $70k windfall they got (though this one is really hard to prove, they will do it on forgiven loans).