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Can I report a lost real estate purchase deposit as a loss on my taxes?
I was going to purchase a new home from a builder. They required a deposit from me to start the design and building process. During the design process the cost of the home increased to the point where I could no longer afford to purchase the home... and I lost my deposit. Is there any way I can report this lost deposit as a loss on my taxes? The deposit amount was $25,000.
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‎June 4, 2019
8:58 PM