Deductions

[argarcia951]

We bought land to build on back in 2008 and finally decided not to build on it, so we sold it but we sold it for quite a loss, how do I claim that loss? I am using TT Premier, will that walk me thru getting the deduction? What form will it wind up on?

[DoninGA]

Losses on the sale of personal use property, not used for an investment, are not reported on a tax return.

[argarcia951]

So I don't get any kind of credit for the loss?

[DoninGA]

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@argarcia951 wrote:

So I don't get any kind of credit for the loss?

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Sorry, no.