The abandonment of property used in a business or income-producing activity generally results in a loss equal to the property's adjusted basis.

Name: The abandonment of property used in a business or income-producing activity generally results in a loss equal to the property's adjusted basis.
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When property used in a business or income-producing activity is abandoned, the loss is generally equal to the property's adjusted basis. This loss can be deducted on the taxpayer's tax return.

The Abandonment of Property Used in a Business or Income-Producing