[19h]

Or maybe, just maybe, this is tax evasion?

[katzinsky]

I'm renting a cube (of sorts) in a building in Alexandria VA that sold for something like 30% of what the owners paid for it originally just the other month.

We're definitely witnessing a crash in US office space prices.

[pcai]

I never understood the argument that “locking in your losses is actually a form of tax evasion” - or am I misunderstanding what you are trying to say?

[recursive]

I don't really know how taxes work, but I'd imagine it's because somehow it lowers your tax bill for that year.

[19h]

Selling a NYC skyscraper for 97.5% under market value? Yeah, that's tax evasion 101.

Reasons:

- Property taxes? Tanked.

- Capital gains? What capital gains?

- Money laundering? Check.

- Gift tax dodge? Probably.

- Transfer tax? Lol.

- Asset value shenanigans? You bet.

IRS gonna love this one. Good luck explaining that "market rate" to the auditors.