Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
landlord911
New Member

I sold my house for $80,000 after I bought it for $156,000 because of market drop. Can I claim a lost?

 
3 Replies
VolvoGirl
Level 15

I sold my house for $80,000 after I bought it for $156,000 because of market drop. Can I claim a lost?

No not for your primary house.  Was it a Rental or Investment property?
SweetieJean
Level 15

I sold my house for $80,000 after I bought it for $156,000 because of market drop. Can I claim a lost?

OP's screen name says landlord?
DoninGA
Level 15

I sold my house for $80,000 after I bought it for $156,000 because of market drop. Can I claim a lost?

No.  Loss on the sale of a personal residence, not used in a business or as a rental, is not reported on or deductible on a tax return.

Dynamic AdsDynamic Ads
Privacy Settings
v