Each year about this time I sit down to do our taxes. While I don't have all our tax information yet, I've started with the preliminary stuff.
I've actually been itching to get our taxes done since November 21st. That was the day the house in Puyallup closed and we had MUCHO losses to report.
Only one problem.
You don't report losses on residential home sales. Only on investment property. If we had a renter in there for even just one month, we could claim this loss.
However, our HOA wouldn't allow that to happen, so this house sat empty for the entire part of 2008 that it was in our name. When we sold it, we had to come up with the difference.
A difference almost equal to my salary. My annual salary.
Now the IRS is telling me, sorry, that sucks, but we don't want to hear about it.
If I had sold it for a gain, the IRS would be all up in my business wondering where their cut of the money was.
They'll take, but they won't give.
What else is sad with this story? We would've been better off going into foreclosure in 2007 when we moved.
Our credit wouldn't have been better off nor would our conscience, but our financial situation would've been. Our tax return would've been the same.
Tell me how that makes sense?
I'm so mad I could just...could just...raise my fist, grit my teeth and say "IRS" like it's a bad word.
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