Sale of Vacation Home

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  • taxriv
    Junior Member
    • Jan 2014
    • 14
    #1

    Sale of Vacation Home

    Does the sale of a vacation home (that has never been rented out) at a loss, unlike a main home, give the taxpayer a capital loss? And does it go on Schedule D as an ordinary transaction?
    Tags: None
    • taxea
      Senior Member
      • Nov 2005
      • 4292
      #2
      Is it personal property? Did they live in it 2 out of the last five years? Did they sell to a relative?
      Believe nothing you have not personally researched and verified.

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        • Burke
          Senior Member
          • Jan 2008
          • 7068
          #3
          Originally posted by taxriv
          Does the sale of a vacation home (that has never been rented out) at a loss, unlike a main home, give the taxpayer a capital loss? And does it go on Schedule D as an ordinary transaction?
          They have to report a gain, but cannot take a loss. You can show it on Sche D with an adjustment to net to zero. There is a code for that.

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