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kaxnijk-8
New Member

If I sold a home and realized only a $4K loss, is this worth the paperwork?

 
1 Best answer

Accepted Solutions
Bsch4477
Level 15

If I sold a home and realized only a $4K loss, is this worth the paperwork?

If the home is a personal not a business property you cannot deduct a loss.

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2 Replies
Bsch4477
Level 15

If I sold a home and realized only a $4K loss, is this worth the paperwork?

If the home is a personal not a business property you cannot deduct a loss.

PaulaM
Expert Alumni

If I sold a home and realized only a $4K loss, is this worth the paperwork?

If the home you sold was your personal residence then the loss is not deductible anyway. If this was for a business or rental home, then yes it would be worth working the paperwork.

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