If the home was inherited and sold within the year but never lived in and sold for less than FMV then the loss is not deductible? I have seen several other posts stating it's deductible if never used for personal use and sold at arm's length transaction. But I am trying to finalize our tax return and keep getting a message that states I can't take a loss on personal use property, but this property was never used for personal use. Any help would be greatly appreciated.
