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RD
RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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iF YOU HAD A LOSS ON THE SALE OF A PRIMARY RESIDENCE IN 2008,

Customer Question

iF YOU HAD A LOSS ON THE SALE OF A PRIMARY RESIDENCE IN 2008, CAN YOU GO BACK TO THE PREVIOUS TAX YEAR AND AMEND THAT TAX RETURN
Submitted: 7 years ago.
Category: Tax
Expert:  RD replied 7 years ago.

Loss on sale of primary residence is not tax deductible.

 

Is there any other reason for the amendment?

 

 

Let me know if you have any question.

 

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.

Customer: replied 7 years ago.
How can I verify this information?
Customer: replied 7 years ago.

This is a ripoff. No expanation? Looks like a computer answer

 

Expert:  RD replied 7 years ago.

Here is a link to the IRS website that will state the same thing that loss is not deductible but gain can be excluded.

 

http://www.irs.gov/businesses/small/industries/article/0,,id=98921,00.html

 

 

Let me know if you have any question.

 

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.

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