Maybe. A loss on the sale or exchange of personal use property, including a capital loss on the sale of your home used by you as your personal residence at the time of sale, or loss attributable to the part of your home used for personal purposes, isn't deductible. Only losses associated with property (or a portion of property) used in a trade or business, losses resulting from a transaction entered into for profit (for example, a loss on the sale of stock), or casualty losses (until 2025, only losses resulting from federally declared disasters) are deductible.