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June 5, 2019
Solved

Which form/line do I use to file a $30,000 real estate loss?

  • June 5, 2019
  • 5 replies
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Which form\line do I use to claim a $30,000 loss on a condo sale?
Best answer by BobinCT

OK, then say you sold a vacation property and follow the prompts.  This will avoid the IRS proposing to tax you on the entire proceeds and will enter it on your tax return correctly.  But you will get no tax deduction for your loss.

5 replies

Employee
June 5, 2019
Was the condo for personal use?
User5235Author
June 5, 2019
Yes
Employee
June 5, 2019
Did you receive a form 1099-S in connections with the sale?
User5235Author
June 5, 2019
Yes
BobinCTAnswer
Employee
June 5, 2019

OK, then say you sold a vacation property and follow the prompts.  This will avoid the IRS proposing to tax you on the entire proceeds and will enter it on your tax return correctly.  But you will get no tax deduction for your loss.