topic Selling home under construction at a loss in Investors & landlords

Selling home under construction at a loss

coyote999 — Tue, 24 Feb 2026 06:54:35 GMT

We were building a home about 150 miles from us. We ran out of money and cannot complete the home. It was going to be our primary residence. Construction has stopped. We have a primary residence that was to be sold upon completion. The house under construction is now on the market and it will not sell for what we have put into it. We have all receipts. Will we be able to claim a loss for this home?

Re: Selling home under construction at a loss

DoninGA — Sat, 22 Jul 2023 22:53:43 GMT

Residential real estate that is for personal use only and is sold at loss is not reported on a tax return.

Re: Selling home under construction at a loss

Critter-3 — Sun, 23 Jul 2023 16:42:28 GMT

It is reported on a tax return since a 1099-s will be issued however the loss is not deductible.