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Sale Of Personal Residence

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    #1

    Sale Of Personal Residence

    Is A Loss On The Sale Of Personal Residence Deductible??
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    #2
    loss on sale of personal residence

    A loss on personal property such as a car or personal residence is not allowable.
    However inherited property such as the parents personal residence is treated as a long-
    term transaction and any loss is allowable subject to the $3,000 capital loss rules
    per year.

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