I know there is no capital gain on a primary house, but I sold my house for less than I paid for it 20 years ago. Can I take a capital loss?
- posted
10 years ago
I know there is no capital gain on a primary house, but I sold my house for less than I paid for it 20 years ago. Can I take a capital loss?
There is a capital gain on the sale of a primary house, but you can exclude a portion of the gain if you meet certain requirements. However, you can't claim a loss on the sale of your personal residence.
Ira Smilovitz
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