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IRS Tax Map 2008
Current IRS Tax Map

Frequently Asked Tax Questions

Capital Gains, Losses/Sale of Home - Losses (Homes, Stocks, Other Property)


Rev. date: 1/2010


Is the loss on the sale of your home deductible?

previous topic occurrence Capital Gains and Losses next topic occurrence
previous topic occurrence Primary Residence next topic occurrence
previous topic occurrence Selling Your Home next topic occurrence

The loss on the sale of a personal residence is a nondeductible personal loss.

Rev. date: 1/2010


I own stock which became worthless last year. Can I take a bad debt deduction on my tax return?

previous topic occurrence Bad Debt next topic occurrence
previous topic occurrence Capital Gains and Losses next topic occurrence
previous topic occurrence Cost Basis next topic occurrence
previous topic occurrence Investment Income and Expenses next topic occurrence
previous topic occurrence Worthless Securities next topic occurrence

If you own securities, including stocks, and they become totally worthless:
The worthless securities are: