Dave Marshall
Joined: 9/30/2024
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Capital Gains Loss on Foreign Property: Negligible Value
I have owned the ground floor of a large country house in France since 2007. In 2021 just before France lifted their covid related travel restrictions the entire property was burglarised, vandalised, and the top apartment subject to arson and the communally owned roof destroyed. The one of the owners had let their insurance lapse and are unable to fund their share of the repairs. My apartment is unsellable and essentially worthless. Can I claim it has negligible value?