Loss From Selling Your Mammoth Condo

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Loss From Selling Your Mammoth Condo

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Can I deduct the loss I suffered when I sold my Mammoth Condo?

The Internal Revenue Service currently does not allow deductions for losses on the sale of your own Mammoth Condo.

In fact there's no way to use a loss on the sale of your principal residence to your advantage on your income tax return. For information on deducting a loss on the sale of your Mammoth Condo vacation home, consult with your tax professional.

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