topic Re: Deductions in Get your taxes done using TurboTax

Deductions

argarcia951 — Mon, 09 Mar 2026 08:31:48 GMT

We bought land to build on back in 2008 and finally decided not to build on it, so we sold it but we sold it for quite a loss, how do I claim that loss? I am using TT Premier, will that walk me thru getting the deduction? What form will it wind up on?

Re: Deductions

DoninGA — Wed, 09 Mar 2022 23:39:49 GMT

Losses on the sale of personal use property, not used for an investment, are not reported on a tax return.

Re: Deductions

argarcia951 — Wed, 09 Mar 2022 23:41:03 GMT

So I don't get any kind of credit for the loss?

Re: Deductions

DoninGA — Wed, 09 Mar 2022 23:41:32 GMT

@argarcia951 wrote:

So I don't get any kind of credit for the loss?

Sorry, no.