Can i deduct a loss incurred in real estate property purchase transaction

[Qtax09]

I made an offer on a condo and because my other source of funding did not come through, I had to lose my deposit of $10K and cancel the sale.  Can I write it off somewhere?  I had a signed contract and it was in escrow.

[Coleen3 · Accepted solution]

Unfortunately, no. Personal losses are not deductible.