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pancake811
New Member

Can I take any part of a real estate loss on my tax return and, if so, how?

Purchased land for $122,500 in 2008 and sold for $75,000 in 2016.

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Accepted Solutions
KarenL2
Level 5

Can I take any part of a real estate loss on my tax return and, if so, how?

Yes, it is entered as an investment sale.   As you go through the screens it will ask if you sold any investments and you will select Yes.  Then, on the following screens you will see several options for types of investments.  Select the one for Land.

While inside the software and working on your return, type land sale in the Search at the top of the screen (you may see a magnifying glass there).  There will be a popup that says Jump to  land sale.  Select that to get to the general area. 

If that doesn't work for you, you can go to the Federal Taxes tab > Investment Income > Stock, Mutual Funds, Bonds, Other.  Select that option.



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1 Reply
KarenL2
Level 5

Can I take any part of a real estate loss on my tax return and, if so, how?

Yes, it is entered as an investment sale.   As you go through the screens it will ask if you sold any investments and you will select Yes.  Then, on the following screens you will see several options for types of investments.  Select the one for Land.

While inside the software and working on your return, type land sale in the Search at the top of the screen (you may see a magnifying glass there).  There will be a popup that says Jump to  land sale.  Select that to get to the general area. 

If that doesn't work for you, you can go to the Federal Taxes tab > Investment Income > Stock, Mutual Funds, Bonds, Other.  Select that option.



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