topic Family issue in Deductions & credits

topic Family issue in Deductions & credits https://ttlc.intuit.com/community/tax-credits-deductions/discussion/family-issue/01/46708#M3605 Family issue Sat, 01 Jun 2019 00:56:37 GMT stiles 2019-06-01T00:56:37Z I bought a second home 10 years ago for 157k and if I sell it before year end 2016 for 85k, still owe 62k on it, can any loss be claimed? https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-bought-a-second-home-10-years-ago-for-157k-and-if-i-sell-it-before-year-end-2016-for-85k-still-owe/01/46678#M3599 Sat, 01 Jun 2019 00:56:33 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-bought-a-second-home-10-years-ago-for-157k-and-if-i-sell-it-before-year-end-2016-for-85k-still-owe/01/46678#M3599 stiles 2019-06-01T00:56:33Z No. you can't claim losses on the sale of personal use pr... https://ttlc.intuit.com/community/tax-credits-deductions/discussion/no-you-can-t-claim-losses-on-the-sale-of-personal-use-pr/01/46682#M3600 No. you can't claim losses on the sale of personal use property. Sat, 01 Jun 2019 00:56:33 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/no-you-can-t-claim-losses-on-the-sale-of-personal-use-pr/01/46682#M3600 Carl 2019-06-01T00:56:33Z But if it were a gain, I would have to claim a capital gain? https://ttlc.intuit.com/community/tax-credits-deductions/discussion/but-if-it-were-a-gain-i-would-have-to-claim-a-capital-gain/01/46694#M3602 But if it were a gain, I would have to claim a capital gain? Sat, 01 Jun 2019 00:56:35 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/but-if-it-were-a-gain-i-would-have-to-claim-a-capital-gain/01/46694#M3602 stiles 2019-06-01T00:56:35Z Stick to your other question. You said it was a rental? https://ttlc.intuit.com/community/tax-credits-deductions/discussion/stick-to-your-other-question-you-said-it-was-a-rental/01/46703#M3603 Stick to your other question.  You said it was a rental? Sat, 01 Jun 2019 00:56:37 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/stick-to-your-other-question-you-said-it-was-a-rental/01/46703#M3603 VolvoGirl 2019-06-01T00:56:37Z Family issue https://ttlc.intuit.com/community/tax-credits-deductions/discussion/family-issue/01/46708#M3605 Family issue Sat, 01 Jun 2019 00:56:37 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/family-issue/01/46708#M3605 stiles 2019-06-01T00:56:37Z Your question was answered in the other post ... yes, a g... https://ttlc.intuit.com/community/tax-credits-deductions/discussion/your-question-was-answered-in-the-other-post-yes-a-g/01/46716#M3607 Your question was answered in the other post ... yes, a gain is taxable .  If you sell a rental then not only is the gain taxable but you also MUST recapture the depreciation allowed or allowable even if you didn't take any. <BR /><BR /><a rel="nofollow" target="_blank" href="<A href="https://ttlc.intuit.com/questions/3398280-rented-my-second-home-from-1-2016-thru-9-2016-now-selling-second-home-and-expect-a-loss-on-sale-can-i-claim-the-loss">https://ttlc.intuit.com/questions/3398280-rented-my-second-home-from-1-2016-thru-9-2016-now-selling-second-home-and-expect-a-loss-on-sale-can-i-claim-the-loss</a" target="_blank">https://ttlc.intuit.com/questions/3398280-rented-my-second-home-from-1-2016-thru-9-2016-now-selling-second-home-and-expect-a-loss-on-sale-can-i-claim-the-loss">https://ttlc.intuit.com/questions/3398280-rented-my-second-home-from-1-2016-thru-9-2016-now-selling-second-home-and-expect-a-loss-on-sale-can-i-claim-the-loss</a</A>> Sat, 01 Jun 2019 00:56:39 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/your-question-was-answered-in-the-other-post-yes-a-g/01/46716#M3607 Critter 2019-06-01T00:56:39Z