: Unlike other investments, you cannot deduct a loss from the sale of your personal residence on your taxes.
AI responses may include mistakes. For financial advice, consult a professional. Learn more Topic no. 701, Sale of your home | Internal Revenue Service : Unlike other investments, you cannot deduct a
This is a complete exclusion, meaning you don't even have to reinvest the money into a new house to keep the profit tax-free. Core Requirements for the Benefit : Unlike other investments
: You generally cannot have used the exclusion for another home sale in the two years prior to the current sale. Important "Gotchas" and Nuances : Unlike other investments, you cannot deduct a