You'll need to sign in or create an account to connect with an expert.
if the home is paid off, the only deductible item would be real estate taxes paid. if you could be more specific about what you mean, maybe a different answer would be in order. you can not just expense the second hone because there is no mortgage
house was sold at auction by the local government due to RE tax being in arrears. No mortgage on the property
No, you can't take a loss on personal use property.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
OzFest
New Member
pcow05
Level 1
Perez Med LLC
Level 1
ianleonard
Level 2
DML Talent Solutions
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.