If I be to get rid of my property to be precise my primary residence, will in attendance be a possessions loss?
Answers:
If you put up for sale your residence for smaller amount than you salaried for it you will own a means loss however it is NOT deductible. Losses on the public sale of a personal residence are never deductible.
Only if you market it for smaller quantity than you bought it for.
If you vend it at a loss after yes that's a excise write stale I believe.. otherwise if you gain, you will hold to pay packet taxes. Unless obviously you roll that money over right away into another house.
You can't pocket a means loss on your taxes for personal property, including your personal residence.
Losses on personal residence are not deductible in any path.