Soaring high above the bustling streets of Van Nuys Civic Center, 1370 Building on Friar Street is one of the impressive office and retail buildings.

Writing off loss on sale of property on federal income taxes may hinge on whether it was purchased for investment purposes

REAL ESTATE MATTERS | If you purchased these lots for investment purposes, you may be able to claim the loss of $13,000 on your federal income tax returns. On the other hand, if you simply purchased the lots to someday put your home there, you likely would not be able to take any loss on your federal income tax returns.
Source: New feed

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