All Forum Posts by: Doug Whyte

Thanks to all! I really appreciate the input and information.

I will be consulting a local CPA and or Tax Atty with expertise in Real Estate before doing anything.  Based on what I've gathered from here it seems  my best course might be to get up and produce some capital gains which I could then offset with the loss!

Ok Levi, Thanks!

Ditto to Cameron!

Linda thanks for your feedback, but say it ain't so!  I had read this in an IRS publication, but didn't want to believe it because I don't have capital gains and it seemed such a small compensation that took so long!  I have been hoping for a way to more aggressively apply it to rental income which is the bulk of my earnings.  I guess I need to find some find some capital gains over the next few years...

Thanks again for your answer!

$150K. Invested in 2005.  Several of us who lost out have spent time with legal council trying to figure out how to find the developer and get things moving again, but to no avail.  At this point I am certain I will never see my unit.

Hi!

A few years ago my wife and I invested in a Condo Development in BC Mexico.  Should have known better!  Anyway, nothing ever got built, I never got my unit, and the only thing that did happen was that the developer and my money went bye bye.

Does anyone know of a way to write off that loss so I can recoup some of it through income tax reductions?