Can I write off earnest money I lost when trying to purchase a home?

The home was for personal use. The sale of the home was canceled.

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Can I write off earnest money I lost when trying to purchase a home?

Sorry, no. Earnest money lost due to the sale being cancelled is not reported or deductible on a tax return.

Can I write off earnest money I lost when trying to purchase a home?

What if this was an investment property.

Can I write off earnest money I lost when trying to purchase a home?

No, the forfeited Earnest Money would be treated as an award to the seller for breaking the contract to purchase, not a loss or expense for the potential Buyer.

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Can I write off earnest money I lost when trying to purchase a home?

Can I write off earnest money I lost when trying to purchase a home?

Can I write off earnest money I lost when trying to purchase a home?

Can I write off earnest money I lost when trying to purchase a home?

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Can I write off earnest money I lost when trying to purchase a home?

Can I write off earnest money I lost when trying to purchase a home?

Can I write off earnest money I lost when trying to purchase a home?

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