Question on deduction for eminent domain

Home Fairmark Forum Taxation of Investments Question on deduction for eminent domain

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  • #6572
    Mayday981
    Participant

    Hi everyone,

    The government has acquired my client’s land through eminent domain but not the building portion. The government is planning to rent the building portion for 3 years. However the government is asking for the client to demolish the building. Can my client write off the building?

    #6624
    Lewis-H
    Participant

    Property owners that are affected by eminent domain have few options once they receive an offer for their property. … Depending on the state the property owner is in, it may not make sense negotiating when an offer is made.

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