Loss on Sale

You cannot deduct a loss on the sale of your home. It is a personal loss.

Payment by employer. You must include in income any amount your employer pays you for a loss on the sale of your home or for expenses of the sale when you transfer to a new location. Do not include the payment as part of the selling price. Your employer will include it in box 1 of your Form W-2. Include it in your gross income as wages on line 7 of Form 1040.

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