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 Thomas Swartz Your Own Question
Thomas Swartz
Thomas Swartz, Attorney
Category: Legal
Satisfied Customers: 3176
Experience:  Twenty one years experience as a lawyer in New York and New Jersey. Former Appellate Law Clerk.
Type Your Legal Question Here...
Thomas Swartz is online now
A new question is answered every 9 seconds

I sold my second home in 2012 and only recieved 20 thousand

This answer was rated:

I sold my second home in 2012 and only recieved 20 thousand dollars--I paid 90 thoursand dollars--Is there any way that I can use this loss for a deduction ???? If you do not know the answer can you tell me where to go??????

Unfortunately, you can not deduct a capital loss on a second home, unless you used the second home as rental property. If the home was used as a personal residence, the loss would not be deductible. IRS (Losses on Home).

Thomas Swartz and other Legal Specialists are ready to help you