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by James P. McNamara - A tax adviser would recommend that, to establish that the property is investment property, a taxpayer should at a minimum, comply with the stated requirements regarding the deduction of losses, but also go beyond them by treating the property as investment property to the greatest extent possible. For example, keeping records for the property that are separate from the taxpayer's records for his personal residence may help establish the intent to hold the property as investment property rather than for personal use.

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