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State tax filing
Based on the information you shared, yes, you can enter the sale of your Illinois property as an investment property sale. Therefore the loss would be deductible.
Use the following TurboTax help article as a guide for entering the sale information:
Where do I enter the sale of a second home, an inherited home, or land on my 2021 taxes?
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March 13, 2022
6:30 AM
2,661 Views