Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Loss on a personal residence isn't deductible.

Sorry I wasn't clear. We may wind up "making" money on the sale of asset only because of a step down in basis. Or we may lose more. Who knows. I'm just wondering what the impact of the sale of Dad's house dragging out endlessly will be. The executrix has been making noises about renting the place, but it sounds as thought that would be an issue on so many fronts. Wondering how much I should object.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.