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Updated almost 12 years ago,
losses on potential investment property
We tried to purchase a property and paid money for an appraisal, but did not get approved and did not buy it. Then we also tried to get a construction loan for a house we are planning and paid the bank for another appraisal, but the loan was eventually denied. Can these expenses be deducted from profits we have from other rental properties we own? Since these losses are not directly tied to income generating properties I'm not sure how that works.
thanks,
Sol