Rick1725
Level 2
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My client inherited outright his mother's home when she passed away in Jan 2019.

He had lived in the home for years with his mother.

He sold the house($550K) several months after her death for $20,000 less than the Market Analysis ($570K). He had closing costs of $32,909.

Can he claim a deductible LT cap loss? If so, how much?

Thank you.

 

 

 

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