Can I take a capital loss deduction on selling my Carolina Panthers PSL?

[printseller]

Purchased for $7200 in 1994. Sold for $650 in 2019.

[DianeC958]

No, since this is a personal item, the loss on selling it is not tax deductible.

@printseller

[printseller]

Thanks. Is my primary residence also considered a personal item? On the sale of which I might have to report a capital gain.

[DianeC958]

Yes, your personal residence is also a personal item. 

Currently if you have owned the house for 5 years and lived in it at least 2 out the last 5 years, you can exclude up to $250,000, of the gain if you are Single, or $500,000, if you are Married Filing Joint.

If you have a loss on the sale, this is not a deductible loss for tax purposes.

Tax Aspects of Home Ownership: Selling a Home

@printseller

[printseller]

The cap gain is over the joint marital exclusion. Seems like the cap gain loss rule should go both ways. Doesn’t seem fair. 

[ThomasM125]

You could have deducted the loss on the Panthers tickets if you purchased them as an investment. However, that would mean you never used them yourself for recreation.