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posted Jun 15, 2020 1:19:55 PM

I have a loss of $28000. on the sale of my house in August 2019. Can I deduct this, if so where?

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1 Replies
Level 15
Jun 15, 2020 1:23:11 PM

If the house that was sold was a personal residence, not used as a rental or in a business, the loss on the sale is not reported on a tax return.  Unless you received a Form 1099-S then the sale has to be reported.

 

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Less Common Income
  • On Sale of Home (gain or loss), click the start or update button

Or enter sale of home in the Search box located in the upper right of the program screen. Click on Jump to sale of home