In 2006, my wife and her brother inherited a home from her Dad.
The estate is now closed.
The home was assessed before the estate was closed.
When we sell the home, we will probably incur a "loss", i.e. sell it at less than the assessed value.
Is there any possibility for a tax deduction?
Neither my wife, nor her brother, have this house as a residence.
Also, it is not rented.