Ok folks have a question for you guys that know how all this stuff works
In 2013 I bought a home. Paid 145k cash fast forward to fall of 2016 I had a renter moved in. My and ex wife had to divorce. Wife got 40k from house
Had to sell the place since I sure didn't have 40k to give her
Renter had all but trashed the property the house and the garage. As I was up against a fence and facing the judge wanting to put a warrant out if I did not pay my ex wife by the set date.
I took a massive. Like nearly 80k loss on the house due to the damage and the need to sell it quickly to avoid more legal issues
It's a long ass story with lots of legal issues between me my Renter and my ex wife
What I need to know.
I was told I may be able to get some kind of tax refund for a huge capital loss
Is that true in any way ?
Even if it's a percentage of what I lost I'd be happy since I basically hit the reset button on life and walked away with nothing from the house at all aside from no legal issues and a satisfied judge.
In 2013 I bought a home. Paid 145k cash fast forward to fall of 2016 I had a renter moved in. My and ex wife had to divorce. Wife got 40k from house
Had to sell the place since I sure didn't have 40k to give her
Renter had all but trashed the property the house and the garage. As I was up against a fence and facing the judge wanting to put a warrant out if I did not pay my ex wife by the set date.
I took a massive. Like nearly 80k loss on the house due to the damage and the need to sell it quickly to avoid more legal issues
It's a long ass story with lots of legal issues between me my Renter and my ex wife
What I need to know.
I was told I may be able to get some kind of tax refund for a huge capital loss
Is that true in any way ?
Even if it's a percentage of what I lost I'd be happy since I basically hit the reset button on life and walked away with nothing from the house at all aside from no legal issues and a satisfied judge.