Where’s my mortgage assistance?
Ok… so I just sold my house and I had to fork out $ 5k at closing. It wasn’t a foreclosure or short sale or anything. I had a fixed-rate loan, and I bought a home within my financial means.
Now the government talks about “bailing out” struggling home-owners.
Where’s my help? I was the responsible one here. I made financial-sound decisions when I bought my home. Because others couldn’t pay their mortgages anymore because they make $ 40k/year and bought a $ 300k home… I had to sell my dumpy-condo for less than I paid for it…
Where is the logic in all this? Where’s my “bail-out”?
10.4 Capital Gains, Losses/Sale of Home: Losses (Homes, Stocks, Other Property)
Is the loss on the sale of your home deductible?
The loss on the sale of a personal residence is a nondeductible personal loss.
Sucks to be me!