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QUESTION DETAIL
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Can you write-off a huge home property loss over multiple years?
ANSWER
Expert Thomas Graham iii's Answer:
I’m assuming you mean a loss on the sale of the property. Unfortunately this loss is considered a nondeductible personal loss therefore not only can you not deduct it over multiple years but it won’t be deductible at all. (IRS Publication 523 – Amount of Gain or Loss)
