Family inherited a condo 4 years ago, family used it a few times for vacation, been vacant for most part. Never rented. The condo was sold at a loss, can the loss be used on a return since it wasn't main residence for anyone?
tks all
bw
Inherited condo sale
Feb 04, 2013
2 Replies
=============Personal losses of this type are not deductible. Had you not used the property at all, you could have tried for an investment loss.
This sounds like might be investment property, which makes the loss deductible. But I'm not sure. It's certainly not business property as you didn't depreciate it, file Schedule E, etc.
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