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Updated over 4 years ago on .
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Tax loss on passive income
Can I buy the ag land next to my residence, lease it to a farmer at a loss against my apartments? Or would it be possible to set up my purchase (perhaps through a entity that does such arrangements or a relative) as a long term lease with purchase at the end - to make the loss more palatable to the IRS?
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@Bruce D. Bolton
I actually was going to ask if you just wanted the land. If you really want the land and would be willing to buy it without the lease then I'd say offsetting some cost would be a smart play. I think when you asked if you could offset the loss against your rentals it seemed like that was your end goal. Lol