JohnB5677
Employee Tax Expert

Deductions & credits

@HelenC12 is correct.  Per the IRS 2020 Instructions for Schedule D (2020) | Internal Revenue Service (irs.gov) under Capital Assets Held for Personal Use it states:

 

Loss from the sale or exchange of a capital asset held for personal use isn't deductible. But if you had a loss from the sale or exchange of real estate held for personal use for which you received a Form 1099-S, you must report the transaction on Form 8949 even though the loss isn't deductible.

 

 

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