- May 6, 2011 at 5:17 pm #208472AnonymousInactive
I need to sell my home so that I can take a job out-of-state. I have been in the home for 3 years, but it looks like I will take a $30,000 hit. Is this tax deductible as a business expense?
My home value is the same as 3 years ago, but the real estate broker will charge me a 6% fee.
- May 12, 2011 at 4:49 am #273102Debra BuncleMember
No, you can’t deduct a loss on your home. If you need to ask, change you alias. You don’t qualify to call yourself “Mr Money”. On a slightly different note: Did you sell for $30,000 less then you paid for the home, or just $30,000 less than you OWE on the home? I wonder if you would have a ‘loss’ for taxes even if you could deduct such a loss.
- May 17, 2011 at 9:01 am #278904pairasighnonaMember
No, a loss on your personal residence isn’t deductible. Maybe you could negotiate with your new employer to pay for part of the loss.
- May 18, 2011 at 1:46 am #280200Arlie SellwoodMember
No. Losses on personal residences are not deductable.
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