Quote:
Originally Posted by Soukus
Even with capital gains tax, he'll profit personally. Until the business sells the building or closes its doors there is no loss, and then the loss is figured into the cost of doing business or against taxes or credit owed. I could be wrong.
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Can you say that slower...in English? The individual has to pay capital gains on the sale. He paid something like $40k for the property about 15 years ago.