Hello,
Earlier this year, I put $9,000 down for a new build home for which I planned to use as a rental property. Unfortunately, the builder did not complete the house by the settlement date and we both terminated the real estate contract. As part of the termination, builder agreed to refund all builder credits (May 2021). So far he has not given my money back even though me and my real estate agent have tried multiple times to contact him.
I ended up buying another home in the area but am short $9,000. Can I write this off in my taxes?
I have documentation to prove the builder breached contract as well as the contract termination.
