federal tax deductions

[ken5002]

Can i deduct loss from sale of vacant lot on federal income taxes 

[DoninGA]

If the land was for personal use only you cannot deduct the loss on a federal tax return.

[zomboo]

You can deduct the loss if the land was an investment (vacant land held for speculation) and not for personal use. The loss is limited to $3,000 this year and carries forward. Used form 8949 and schedule D for this.