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J
jimevanssr
March 19, 2020
Question

Can I deduct a loss on real estate property?

  • March 19, 2020
  • 1 reply
  • 0 views
No text available

1 reply

B
BillM223
March 19, 2020

Is this a residential rental property? Then, yes, if you are not a real estate professional, you can deduct the operating loss up to a limit. TurboTax will handle this automatically when you enter the rental information on Schedule E, Rents and Royalties.

 

Or is your question for something else, like the sale of a piece of land?

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