My wife and I purchased a house in 2022, and lived in the house in 2023 and 2024. Due to our divorce, we are now selling the house. The market price has reduced significantly and we will be making loss.
Can we claim the loss as tax relief? I assume not, considering a profit would also not result in capital gains tax.
Tax relief when selling a house for less than the purchase price
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alma.freya
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PandaMunich
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Re: Tax relief when selling a house for less than the purchase price
No.
You have understood the system.alma.freya wrote: ↑Fri Mar 29, 2024 1:37 pm I assume not, considering a profit would also not result in capital gains tax.