Sold investment house for loss including credit card renovations – How do I prove when filing taxes?
I bought an investment house and did the renovations myself on a credit card. It sat on the market for a year and I ended up technically selling it for more than I paid for it. However, when you add renovation expenses and holding costs (interest only mortgage, utilities, etc), I ended up losing $25K. How do I prove to the IRS that I sold this house for a loss?
By: gte357e
About the Author:
Filed under Renting & Real Estate by on Jul 17th, 2010.
