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Hi James... first of all - you are eligible tro claim moving expenses deduction - see the IRS publication for details - http://www.irs.gov/pub/irs-pdf/p521.pdf
understood ... I have been reading up on that.
if you sold the property for less than your basis in that property - there is no capital gain - and no tax liability. However - because that was your personal property - you may not deduct a loss.
Let me know if you had any gain on the sale of your house.
have lost 55K this year alone ... was hoping for some tax relief
when I settle the HUD I still came to the table with 23K
Do you have any debt forgiven?
I don't understand the question
when you wrote "settle" - does that mean you paid less that your mortgage principal?
Niether house was a short sale. The first house I had to go to the table with 45K and the second 23K
As long a both were your personal properties - you may not claim a loss on your tax return... Sorry if you expected a different answer.
You may only claim a loss resulted from the sale of investment or business property.
No not really. I figured as much ... thank you for answering my questions
I wish you the best on your new place. Let me know if you need any help or clarification.
thank you ... good night