Real estate tip: Home depreciation a reality in changing markets
I lost money on the sale of my first house. Can I deduct the loss?
By Inman News, Monday, January 12, 2004.Inman News®
No. While Congress has considered making this legal, real estate losses currently are not deductible on federal income taxes. Not everyone makes money on the sale of their home, most often due to changing market conditions. Chalk it up to experience and buy your next home wisely.
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