![Harold Goedde](https://www.taxconnections.com/taxblog/wp-content/uploads/H-G-6.2-8.png?resize=90%2C90&ssl=1)
This article is part 2 of a three-part series which discusses how to determine the amount of the loss for personal use and income producing property, amount deductible, and tax year for the deduction (part 1 can be found here). We will discuss gains, including deferring the gain for income producing property by purchasing replacement property-qualifying property, time period for replacement, realized and recognized gain, and basis of new property in the final installment.
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