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

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.

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Accepted Solutions
Coleen3
Intuit Alumni

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

Unfortunately, no. Personal losses are not deductible.

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1 Reply
Coleen3
Intuit Alumni

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

Unfortunately, no. Personal losses are not deductible.

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