Hi, I have a loss of about $80,000 from the sale of my house. Turbo tax does not show up this as a loss on my returns. Any reason why it is not deducting the loss?

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Hi, I have a loss of about $80,000 from the sale of my house. Turbo tax does not show up this as a loss on my returns. Any reason why it is not deducting the loss?

You cannot claim a loss on the sale of personal property, including your personal home. If you received a Form 1099-S you have to report the sale on your tax return, but you cannot deduct the loss.

Hi, I have a loss of about $80,000 from the sale of my house. Turbo tax does not show up this as a loss on my returns. Any reason why it is not deducting the loss?

And if you took any home office expenses for self employment you may need to recapture the depreciation.

Hi, I have a loss of about $80,000 from the sale of my house. Turbo tax does not show up this as a loss on my returns. Any reason why it is not deducting the loss?

Thank you!

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