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loss on sale of house (1 viewing) (1) Guest
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TOPIC: loss on sale of house
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Samantha (User)
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loss on sale of house 4 Months, 1 Week ago Karma: 2  
I have a question for all the tax gurus out there.

I know that you can not claim a capital loss on the sale of your residence. But what if you remove or revoke the homestead election; can you then claim that the house was not your residence?

The aim is to take a capital loss on the sale of your residence if you sell it for less that what you paid.

Just a tax saving idea. Ideas and responses appreciated.
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loss on sale of house
Samantha 2008/07/15 02:17
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steve 2008/07/15 07:59
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OnTheGo 2008/07/15 14:08
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tuvok 2008/07/15 19:15
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steve 2008/08/15 08:30
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Samantha 2008/08/22 09:08
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