Invested vacant land loss of earnest money

[MrsSmith]

My husband and I went to purchase vacant land as an investment with intent to build a rental house on the property. Because our realtor failed to inform us of the proper dates of things, we were not able to get the financing and lost our deposit on the property. This would have been our first investment property. Since I do not own a business, would I still be able to deduct this loss on my taxes? 

[MinhT1]

Please read this Community answer from WillK which addresses your question.

[Critter-3]

If the realtor failed then you may be able to sue them for the lost money ... see the rules in your state.