I am selling my home at a massive loss due to a terribly bad real estate market, can I deduct the loss on the sale of a primary residence from my taxes?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

A loss on the sale of a primary residence is often treated differently from losses on investment property, so the home’s use, how long it was lived in as a main residence, and whether any part of it was ever rented or used for business can all matter. The purchase price, selling price, and any impro For an answer applied to your exact numbers, bring this question to a licensed KGOB CPA in a focused session and leave with a clear next step.