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Financial Planning / Tax Strategies


Subject:  Re: Depreciation recovery Date:  3/4/2002  5:48 PM
Author:  ptheland Number:  59435 of 127616

and the apartment was not producing net taxable income without considering depreciation

If the apartment was losing money, then he may have a net operating loss that might be useful this year with the sale. The accumulated losses might be able to carryforward to the current year and offset some of the gain on the sale.

It's probably worth his while to go back and figure out those old returns that he never filed. That's the best way to calculate his net operating loss carryforward into the current year.

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