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taxpayer owns second home that he let daughter live in rent free for 3 years. She moves out and he sells for a loss. Is this a deductable loss. He did deduct mortgage interest as second home for a few years. My brain is really slow.
It would be very hard to prove this was investment property since he took the mortgage interest. If he had taken the interest as investment interest then yes. But it looks like a personal loss as it is.
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