1 The Bahamas economy is dependent on the tourism and offshore banking industries. 2  The economy in the Bahamas is steady and stable.  Constructions for hotels and resorts is booming, due to the large influx of tourists.
Loss on Sale. When you earn a profit on a real estate sale, you have capital gains. When you sell at a loss, you have a capital loss and you can deduct it. If you gains from other sales, you subtract the loss from the gain. If you have any loss left after that, you can deduct up to $3,000 from your other income, then carry the rest forward to next year.
The tax assessorâs estimate of the land value is $75,000, and the building value estimate is $125,000. Your depreciation expense that you take each year against rental income would be $125,000 divided by the IRS allowed 27.5 years of useful life (residential real estate) for a depreciation expense each year of $4,545.n doing your annual 1040 federal income tax return, youâll record your rent and all expenses on a Schedule E form. The net amount of gain or (loss) is then recorded on your 1040 form and can shield your income from taxes if you had a loss.