turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I purchased a home in 2019. The seller failed to disclose defects which affected the value of the home. Can the costs of repairs of those defects be deducted as a “loss”?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
Anonymous
Not applicable

I purchased a home in 2019. The seller failed to disclose defects which affected the value of the home. Can the costs of repairs of those defects be deducted as a “loss”?

you can not deduct these costs.   seek legal counsel.  

Carl
Level 15

I purchased a home in 2019. The seller failed to disclose defects which affected the value of the home. Can the costs of repairs of those defects be deducted as a “loss”?

Losses on the sale or acquisition of personal property are never deductible. You may wish to seek legal counsel to recover your costs from the seller under what I assume would be the auspices of "failure to disclose".

 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question