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Deductions & credits
Yes. But see this link for information:
https://budgeting.thenest.com/can-deduct-loss-second-residence-23574.html
You also have options for when to take the loss
https://www.irs.gov/pub/irs-pdf/p547.pdf
The instructions are from 2023.
Since Milton hit late in 2024, it's not covered, but it should be when the 2024 instructions come out.
‎December 10, 2024
10:17 PM