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Get your taxes done using TurboTax
Generally, investments are things you hold in the hope they will appreciate in value. Every case if different.
My opinion is that your home is not an investment property because you sold at a loss and sold fairly quickly for a loss. Covid-19 is an extenuating circumstance. You can argue you were planning to hold it for investment, but due circumstances were forced to sell.
You can take expenses on your settlement state except for taxes and mortgage interest. They are reported separately.
You would claim those by saying yes the reported sales price did not deduct all fees or selling expenses and enter the total.
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‎April 9, 2022
12:03 PM