Is the loss I incurred on the sale of my car deductible?
Answer:
No. The loss on the sale of your car would be a sale of personal use property
and therefore not deductible.
Interested in more Losses Questions?
- Can I claim a bad debt loss for salary that was not paid to me ?
- I know I can deduct $25,000 loss from my rental property if I have Active Participation . What is Active participation ?
- Is the reimbursement for the loss on the sale of my house due to my moving to a new job location taxable?
- Is the loss I incurred on the sale of my car deductible?
- Capital loss carryover - married filing separate filing status
