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cdhess33
New Member

We sold our private airplane at a loss . How and where do we report the loss.

Is our private airplane that we do not rent considered a personal asset ?  Can we deduct a loss?

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We sold our private airplane at a loss . How and where do we report the loss.

A loss on the sale of personal property is not deductible.

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We sold our private airplane at a loss . How and where do we report the loss.

Who are "we?"  Partnership? C Corp? S Corp?
cdhess33
New Member

We sold our private airplane at a loss . How and where do we report the loss.

no, it was a personal use airplane

We sold our private airplane at a loss . How and where do we report the loss.

But who are "we?" You and your spouse?
cdhess33
New Member

We sold our private airplane at a loss . How and where do we report the loss.

yes  but I should have said he.  Airplane was in his name although we are both pilots

We sold our private airplane at a loss . How and where do we report the loss.

A loss on the sale of personal property is not deductible.

We sold our private airplane at a loss . How and where do we report the loss.

No different then selling your car at a loss.

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