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tlan
Level 1

Can I Claim capital loss on 2019 tax return when I failed to purchase rental property on 2018

During 2019 tax return, I forget to claim the loss about $1500 in a failed real estate property purchase transaction.

Question, Can I claim such loss for 2020 tax return. How to claim it? Do I need to amend 2019 tax return. how to amend it. Thanks A lot.

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3 Replies
DavidD66
Expert Alumni

Can I Claim capital loss on 2019 tax return when I failed to purchase rental property on 2018

You will have to amend your 2018 return in order to claim that loss.  To file an amended return for a prior year, see: How do I amend my 2019 TurboTax Online return?

 

As for how to report the loss, I would need more details on the transaction to advise.

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tlan
Level 1

Can I Claim capital loss on 2019 tax return when I failed to purchase rental property on 2018

This is the lost.

HOMEWISEDOCS.COM 255.00
Insepction: $250
Escrow: $350
appraisal: 670.81

 

and I filed tax 2019 return not online.

Carl
Level 15

Can I Claim capital loss on 2019 tax return when I failed to purchase rental property on 2018

 In order to have a capital loss, you must have some kind of business or investment income to deduct that loss from, and the loss must be directly related to that business or investment... if this was to be a personal transaction, you flat out can not claim your $1500 loss on any tax return. 
[edited by moderator] 

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