I made an investment in a house in construction ,my intent was rent the house when completed... paid for some upgrades and earnest money a total of $25K and because of an issue, house was close to a landfill, I back out of the offer and I lost the earnest money and upgrades money can I declare this as a loss on my tax return?? I am think it was an investment and I lost the money... and if yes, what are the form and steps to do this in the online Turbotax software?
