Johny Utah Posted February 4, 2018 Report Share Posted February 4, 2018 So I lived in this house for the first 2 years. Then the last 5 years I rented it out. I sold the house last March. And I sold it for 12,000 less then what I bought it for. Is there a way to claim that as a loss? I’m using turbo tax and cannot get it to show it as a loss. Quote Link to comment Share on other sites More sharing options...
LJ Posted February 4, 2018 Report Share Posted February 4, 2018 So I lived in this house for the first 2 years. Then the last 5 years I rented it out. I sold the house last March. And I sold it for 12,000 less then what I bought it for. Is there a way to claim that as a loss? I’m using turbo tax and cannot get it to show it as a loss. Probably the recapture on the depreciation is eating the loss Quote Link to comment Share on other sites More sharing options...
LJ Posted February 4, 2018 Report Share Posted February 4, 2018 Here is an article breaking it down https://www.investopedia.com/terms/d/depreciationrecapture.asp Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted February 4, 2018 Report Share Posted February 4, 2018 If it has been a rental for 3 of the last 5 years, it’s considered a rental overall and can be claimed as a profit or loss. Quote Link to comment Share on other sites More sharing options...
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