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Real estate values in my area have declined dramatically. If I sell some buildings at a loss, what can I apply that loss against come tax time?
( I was thinking if I did manage to sell the property I could cash in some US Savings bonds and apply the loss against the interest earned on the bonds...but someone told me I couldn't do this.....can I, or can't I)
Any IRS publication where I can look this up?
Thanks for your help.
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