If I sold a house at a loss after owning it for less than two years, can I deduct the losses?

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If so, do I have to document the loss in any special way?

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  • I’m not a tax expert, but…

    If the house is your main residence, a loss unfortunately cannot be deducted. If the house is investment property, then it can be deducted as a loss.

    See IRS publication 523 for info about selling a home.

    See IRS publication 550 for Info about selling investment property. See IRS publication 17 for general tax info.

    Source(s): http://www.irs.gov/publications/p523/ar02.html#d0e…1

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