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Author: adokmano Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121341  
Subject: House sale capital loss-capital loss for 1040? Date: 5/8/2004 6:46 PM
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If during the course of selling a house, the cost basis is $150,000 and proceeds amount to $145,000 for a $5000 capital loss, is that usable for Federal taxes as a capital loss?
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Author: edcosoft Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 71770 of 121341
Subject: Re: House sale capital loss-capital loss for 104 Date: 5/8/2004 6:52 PM
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No. If this was your personal residence you cannot take a tax loss on it. If it was rental or some kind of investment or commercial property, you could. ed

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