rjs
Level 15
Level 15

Get your taxes done using TurboTax

@CB156

 

What did you sell? You cannot deduct a loss on property that you hold for personal use. What did you select when TurboTax asked what type of investment you sold? If you selected "Second home," "Land (personal use)," or "Personal items" the loss is not deductible.

 

The original question here was about the sale of an inherited house. If you sold a house that you inherited, the deductibility of the loss depends on what you did with the house from the time the previous owner died until you sold it.