Originated From
WalletPop

I sold my house at a loss. Can I deduct the loss on my taxes?

Liked this question? Tell your friends about it

Answers

I do not know if the rules have changed but used to be the answer was no; however there is a way to do it; if you rented the property and used it as a rental for over six months showing intent to rent , you could take the loss off  on taxes . this was a great loophole for loss on sale at one time,,,,dont know if the rules have changed in last several years

Related Questions

Other people asked questions on similar topics, check out the answers they received:

Asked: Ohio Earned Income Tax Credit

ohio earned income tax credit - history What year did it start in Ohio?

Asked: Tax Squeal Report Tax Fraud | Tax Schemes?

Tax Squeal Report Tax Fraud | Tax Schemes?

Asked: What is excise tax and regressive tax?

What is excise tax and regressive tax?

More Questions

House in milwaukee 3623 n 60th street i know the people thatlive there,i

Yes, of course it's possible. Go there and see it.

International Student Housing NYC?

Here you can know more about Student Housing NYC

Tax deductions

i believe that a final tax return must be filed for the deceased person by the executor of the estate. I am unsure which items are deductible. You are going to need some help on this one from an accountant.

Any Tips for Tax Deduction?

There are several ways to increase your Tax Deduction, donate some amount of your income to charities and do not donate your amount in cash donate by check so you can keep a record of donation it will be help you to increase your tax deduction. You must keep records of your donation, scan all ...