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Second Home Sale

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    Second Home Sale

    Client bought home for son to live in while at college. 4 years later he sold
    it at a loss. Never rented or depreciated. 1099-S received. I believe report on
    Schedule D & somehow calculate no loss or gain. In other words it is a personal asset.

    #2
    Correct answer
    Uncle Sam, CPA, EA. ARA, NTPI Fellow

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