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IRS.gov Website

Frequently Asked Tax Questions

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

  1. Is the loss on the sale of your home deductible?
  2. I own stock which became worthless last year. Can I take a bad debt deduction on my tax return?

Rev. date: 1/1/2011

Is the loss on the sale of your home deductible?

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

Rev. date: 1/1/2011

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

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