3 ms·
doesn't passive loss lower your tax basis? so, no, I don't think it negates the tax.
by vasilipupkin 9y ago
doesn't passive loss lower your tax basis? so, no, I don't think it negates the tax.
- tabeth 9y agoYou're right, however in the original scenario proposed you'd sell your property and buy another one, enacting like kind exchange. So then you don't have to pay any taxes.