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Deductions & credits
In a nutshell, losses on the sale of personal property are never deductible. So if the property was not investment property, such as a flip or a rental, the only way you would report it would be if you received a 1099-S. Then the sale would be reportable even though you sold at a loss. But the loss is still not deductible if what you sold was personal use property.
‎June 3, 2019
5:28 PM