That doesn’t help that he actually paid $635,000 for it and now it’s worthless.
It’s as if he took half a million dollars and just set it on fire. Being able to claim a loss on his taxes, if that’s allowed (which I’m pretty sure it isn’t), doesn’t really help with that.
Or… He either didn’t actually pay that money… Or the money went to someone or something he wanted to give 635,000 dollars to already, and writing it off on his taxes is an additional side benefit.
That doesn’t help that he actually paid $635,000 for it and now it’s worthless.
It’s as if he took half a million dollars and just set it on fire. Being able to claim a loss on his taxes, if that’s allowed (which I’m pretty sure it isn’t), doesn’t really help with that.
Or… He either didn’t actually pay that money… Or the money went to someone or something he wanted to give 635,000 dollars to already, and writing it off on his taxes is an additional side benefit.