Losses on sale of investment property

[ggone]

Purchased investment property in 2012 for $60000.00, sold in 2016 for $48000.00. Can I deduct any of this loss?

[HelenaC]

Yes, you can. Generally, you will be limited to a loss of $3,000 per year and the balance will be carried over to future years. What is a capital loss carryover?

Non-security investment sales like coins, collectibles, timber, land, or a second home, are entered as follows:

1. Open (continue) your return in TurboTax.
2. In the search box, search for investment sales then click the "Jump to" link in the search results.
3. Answer Yes to the question Did you sell any investments?
   • If you land on the Here's the investment sales we have so far screen, click Add More Sales.
4. Answer No to the 1099-B question.
5. On the next screen, select the type of sale you had (second home, collectible, land etc.) and click Continue.
6. Continue following the onscreen instructions to enter the sale.

If this is rental property, click I sold my rental property. How do I report that?

If the investments are reported on Form 1099-B, click How do I add or edit a 1099-B?

Related Information:

• How do I add or edit a 1099-B?
• Do I have to report personal items that I sold?