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If the fair market value of the home at the date of death of the decedent was $80,000 and the home was sold for $63,000 the estates have a capital loss in the amount of $17,000. Capital losses incurred by a estates are deductible against capital gains: a maximum of $3,000 of net capital loss bay be deduct against other sources of income. Nondeductible net capital losses are carried forward to subsequent taxable years of the estates.