A TAX QUESTIOn !!!?

2 ⤊

if i took a $41 thousand hit in order to sell,unload my home because my payements were too high.is the IRS symphaetic

2007-02-25 09:01:22 · 3 answers · asked by johnnny805 2 in Business & Finance ➔ Taxes ➔ United States

3 answers

Nope. That is the price of being able to make a huge profit on your house tax-free, you get no love from the IRS for losing your butt on one. See Publication 523 below.

2007-02-25 09:07:54 · answer #1 · answered by Tom's Mom 4 · 1⤊ 0⤋

No. Sorry.
Hopefully the 41k was paper money and not actual dollars.

2007-02-25 19:17:01 · answer #2 · answered by Just Mee 2 · 0⤊ 0⤋

If you're asking can you deduct any of the loss, no you can't.

2007-02-25 18:17:18 · answer #3 · answered by Judy 7 · 1⤊ 0⤋