If I sold a house at a loss after owning it for less than two years, can I deduct the losses? - what can i deduct if i own the house
If so, I have documented the loss of some special way?
Saturday, January 16, 2010
What Can I Deduct If I Own The House If I Sold A House At A Loss After Owning It For Less Than Two Years, Can I Deduct The Losses?
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1 comments:
I'm no tax expert, but ...
If the house is your principal residence, loss, unfortunately, are not deducted. If the house is an investment property, it can deduct a loss.
See IRS Publication 523 for information on the sale of a house.
See IRS Publication 550 for information on sales of capital goods. See IRS Publication 17 for general information about taxes.
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