Loss of Down Payment on New House

[Desert_Rooster]

I payed $17000 to begin construction on a new house.  I was unable to complete the project due to the inability to sell my existing house.  The construction company kept the down payment.  How do I cover the loss.

[MindyB]

If the property was intended to be your personal residence, unfortunately this is a personal loss and is not deductible. 

[Desert_Rooster]

Thank you Mindy ... This may be a reach:  I gambled that my existing house would sell in time to cover the contract on the new house.  I lost because my current house failed to sell.  I lost the gamble.  Thus, I lost my wager.  Is my logic flawed?  ... DR

[fanfare]

you can't deduct gambling losses either.