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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121114  
Subject: Re: New Question Date: 2/1/2014 11:21 AM
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Given the lifetime capital gains for home sales, would it make since to file the sale anyway? Does a loss on a home sale get to be "carried forward", if you will, so if one sold another home in the future at a gain, they can offset part of the future gain with the past loss?

Would it be wise to report the loss anyway just as a record of proof?


You're confused about something. Losses on the sale of personal-use property don't affect taxes in any way, and there hasn't been a lifetime anything regarding home sales since 1987 or so.

Phil
Rule Your Retirement Home Fool
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