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Loss on the sale of an inherited home 4 months after inheritance
I'm getting mixed responses on whether an inherited home that sits vacant while in the 4 month sell preparation process can be claimed as a capital loss if sold for less than the FMV at time of death of decedent. Some say it is personal use if not used for a business or rental thus capital loss cannot be claimed; while others say it is investment property and thus the loss can be claimed.
‎January 4, 2025
2:58 PM