2008 House Bill 5945

Authorize home sale loss tax deduction

Introduced in the House

April 8, 2008

Introduced by Rep. Marty Knollenberg (R-41)

To allow a person who has incurred a loss on the sale of a principal residence to deduct the loss from his or her taxable income under the state income tax. The deductible loss would be the difference between the (lower) sale price and the (higher) purchase price plus any improvements and closing costs.

Referred to the Committee on Tax Policy