sale of investment property

[lcchen2000]

I purchase a condo as investment property  in Feb and sold it in Oct 2024 at a huge loss.   I was not able to rent it out during the time I hold it.   I put this into schedule D but was not able to get any deduction. Turbo tax said "It turns out you can't take a loss on your personal-use property"  Can you advise where I should put this so that I can use the loss to offset my capital gain distribution from my mutual funds? thanks

[Vanessa A]

If this was Truly ONLY an investment property and you never used it as a personal property, then you can list the type of investment as Other, then enter the description as investment Condo or something similar.  This will allow you to deduct it as an investment loss instead of it being treated as a personal property.