The government likes you, especially when you try to make money. Why?
When you make money, you pay taxes, so the government shares in your profits.
But what happens when you fail to make money?
Here again, the government is with you. When your attempt to make money fails, the government allows you a tax deduction for your losses.
This article examines a failed rental property purchase and whether or not tax law takes care of you. ... Log in to view full article.