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Level 1

Why does the IRS suggest NOT reporting sale of my home if it sold at a loss? And is it somehow bad or good for me to either report or not report?

 
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Level 20

Why does the IRS suggest NOT reporting sale of my home if it sold at a loss? And is it somehow bad or good for me to either report or not report?

A loss on a personal residence is not deductible and unless you got a 1099-S form for the sale it is also not reportable.