Hi, PhilI would think that the position would be:This was not her first choice property but once she was locked into the purchase contract for #2 and her preferred #1 property became available again she bid on #1 again and purchased #1.(Closing for #2 was about 10 days before #1)She also had a commitment to purchase #2, but she never intended to move into #2, once she had #1 locked in again. Evidence of this is that she put #2 on the market again the same day that she closed on #2 and never moved in.She also inquired about renting it out, but the potential rent would not nearly cover the monthly cost and renting it out might also be a burden in the event of a quick sale. So, would it not follow, that this was a BAD INVESTMENT and the loss is deductible against any future capital gains or @ $3,000 p.a.?Thank you for your prompt response and your down in the trenches, experienced reasoning.Harald
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. M