All Things Tax

All Things Tax

Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.

Posts: 1
Registered: ‎12-09-2017

Reporting a complete loss of a real estate investment

I bought a lot in a resort before the crash, couldn't sell it, and finally let it go for taxes. I have a letter that the lot was sold for back taxes. Is it a simple thing to claim, using the online tax forms? I would be reporting that the "Proceeds" on form 8949 were zero.

Associate (Pioneer)
Posts: 13
Registered: ‎01-08-2018

Re: Reporting a complete loss of a real estate investment

Hi, Br16


Welcome to H&R Block Community!


The sale of investment real estate property would be reported under FEDERAL--INCOME--Sales and Transfers--1099-S Sale of other real estate, collectibles, and other investment property. Please follow the interview page of the program, and the program will take the information to form 8949.


Even though this is a loss, you still need enter proceeds and basis. You can get 3000 dollars of capital loss deduction each year. For the unused amount, you can carry it forward for future. Hopefully that clears it out. Feel free to let me know if you have any further questions.



Tax Research Specialist