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Old 02-04-2014, 12:58 PM
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Loss on Property Rehabbed But Did Not Own

In 2011 I rehabbed a property that I did not own. A private investor purchased the property with his money. I rehabbed the property with my money. Any profit or loss would be split 50/50. The property did not sell until mid-2013. I incurred a total loss of 14,000 after all expenses were taken into consideration. Am I (and if so where would I be) able to deduct this loss on my 2013 taxes?



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