How to deuct alosloss on land that I sold last year?

[14hodie]

How to deduct a loss onland that I sold last year?

[DoninGA]

The loss on the sale of personal property is not entered on a tax return.

[AmyC]

It depends:

• Property you purchased and held as an investment, can deduct a loss.
• Property owned by your business, can deduct a loss.
• Personal property you use, can not claim a loss.

If you had an allowable loss, it is entered under the investments section.

Reference:

• Where do I enter investment sales?
• Do I need to report inherited property or land?