Welcome Guest. Register Now!  

Ask TaxGuru » leftnav


Find a tax professional cpa near you

Thread: Can u write off a loss on sale of home?
View Single Post
  #2 (permalink)  
Old 01-26-2007, 11:01 PM
TaxGuru's Avatar
TaxGuru TaxGuru is offline
Tax Guru
  
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 1,932
Blog Entries: 3
Although this is a capital loss, the IRS specifically disallows losses on sales of principal residence. So, I am afraid you are out of luck on this one.
__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.
Reply With Quote
 
Follow us on Twitter
» Categories
Ask TaxGuru?
 
Individual
 » Income
 » Estimated Taxes
 » Capital Gains
 » Itemized Deductions
 » IRA/Sep
 » Rental Real-Estate
 » Alternative Minimum Tax
 » Filing Requirements
 » Sole-Proprietorship
 » Medical
 » Auto Expenses
 » Social Security
 » Tax Credit
 » Depreciation
 » Divorce Tax Issues
 » Homeowner Tax
 » Multistate
 
Corporations
 » C-Corporation
 » S-Corporation
 » Limited Liability Company
 » Multistate Tax Issues
 » Non-Profit Organisation
 » Trusts and Gift Tax Returns
 
Forum for CPAs
 » CPA Forums
 
Financial Planning
 » Estate Planning
 » Retirement Planning
 » Investment Strategy
 » Education Planning
 » Life Insurance
 
 » Tax News
 » Tax Calendar
 » Tax Calculators
 » Tax Resources
 » Downloads
 » Contact Us
 
 


Advertise - Contact Us - Ask TaxGuru - Archive - Disclaimer - Privacy Statement - Top
Copyright ©2007-2010, AskTaxGuru.com
Powered by vBulletin® Version 3.6.8
Copyright ©2000 - 2010, Jelsoft Enterprises Ltd.