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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?

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.
Additional Information
Publication 523 Selling Your HomeTax Topic 409 Capital Gains and Losses
Rev. date: 1/1/2011

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:
Additional Information
Publication 552 Recordkeeping for IndividualsPublication 550 Investment Income and Expenses (Including Capital Gains and Losses)Tax Topic 453 Bad Debt Deduction
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