TurboTax FAQ
TurboTax FAQ
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I sold my home at a loss. Is this deductible?

You cannot deduct a loss on the sale of your main home or a vacation home. This is considered a personal loss and is not deductible for tax purposes.

On the other hand, if you used the home as a rental property or it was an investment property then you may be able to deduct the loss. TurboTax will help you figure out if you qualify for a deduction.


IAS10338