is there ever an option to use the loss on the sale of my home as a deduction?

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is there ever an option to use the loss on the sale of my home as a deduction?

2007-02-07 02:40:40 · 3 answers · asked by m1ck3y1 1 in Business & Finance ➔ Taxes ➔ United States

3 answers

NO. Losses on the sale of a primary residence do not qualify for investment losses. It is unfair, but that's the way it is. Investment real estate, bought solely for that purpose is a different story.

2007-02-07 02:45:28 · answer #1 · answered by hdsok 2 · 1⤊ 0⤋

No, losses on sale of a personal residence are never deductible. Sorry

2007-02-07 03:05:40 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋

No. The loss is considered personal and as such, not deductable.

2007-02-07 03:12:07 · answer #3 · answered by Wayne Z 7 · 1⤊ 0⤋