How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Bill Your Own Question
Bill
Bill, Enrolled Agent
Category: Tax
Satisfied Customers: 3153
Experience:  EA, CEBS - 35 years experience providing financial advice
6480514
Type Your Tax Question Here...
Bill is online now
A new question is answered every 9 seconds

Can you write off some or all of a home sale loss on a ...

Customer Question

Can you write off some or all of a home sale loss on a primary residence? Meaning we sold a primary home for less than we paid, can we recup some of our losses?
Submitted: 9 years ago.
Category: Tax
Expert:  Bill replied 9 years ago.

No, unfortunately you cannot take a deduction for a loss on your home.

See page 4 - http://www.irs.gov/pub/irs-pdf/p523.pdf