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Is my home considered Personal Property?
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June 6, 2019
1:44 PM
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Deductions & credits
Yes. Personal use property is a capital asset. At the time of sale, there may be a gain, but you can't take a loss. There is also and exclusion for profits on the sale of your personal, primary home if you owned and lived in it for 2 out of the last 5 years as of the date of sale.
June 6, 2019
1:44 PM