"PeterL" <po.ning[at]gmail.com> wrote:

- quote -

sale of a personal residence at a loss is not a deductible loss

___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] > > -----> real address on hobokeni or hobokenx <-----

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"PeterL" <po.ning[at]gmail.com> wrote:

- quote -

Sorry, no. See IRS Publication 523.

--
Phil Marti
Clarksburg, MD

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PeterL wrote:

- quote -

From Pub 544: "Loss from the sale or exchange of property
held for personal use is not deductible.".

Don't forget to consider the deduction for job-related
moving expenses...

-Mark Bole

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"PeterL" <po.n...[at]gmail.com> wrote:

- quote -

Sorry but losses on the sale of personal use assets,
including homes, are not deductible.

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PeterL wrote:

- quote -

If by house, you mean he sold his main home (principal
residence) then there is no tax deduction for a loss.

--
Alan
http://taxtopics.net

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I have never sold a house at a lose before. But this year
my son has to move to another city for a job and sold his
house at a lose. Q: Can he use the lose as a capital lose
against his tax next year?

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