Due to some financial risk, I backed off and lost the deposit for a house that I was going to buy in another state as the investment and rental property.
Trying to find how to enter this Capital loss in 2023 Turbo tax (Premier).
I tried to enter in " investment sales ", but the very first question it asks is "What type of investment did you sell?,
and then "How and when did you receive this investment?
In my case I did not sell, instead, lost the deposit so what should I write?
Or would there be some other place to enter the loss of deposit as the Capital loss?
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tell a fib to turbotax say yes to selling stocks whatever.
If you lost earnest money due to a failed business purchase of a rental home, you may claim the loss. The loss would be considered a capital loss you would write off on your Schedule D.
In the program, go to:
Thanks Mike,
I tried to follow the steps could follow few but then could not proceed.
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