Just a quick rant… When we sold our house in Solon we sold it for a loss compared to what we originally paid for it.
Now, if we look at the other side of that equation — if we sell the house for a profit then we get taxed on that. But if we sell a house at a loss we can’t write that off.
If a corporations can write down inventory and other assets from their taxes, and if corporations are people, then why can’t people write off the loss?!
Grr… Stupid IRS.