Ezel / IRS Rulings / 201016074

CCA 201016074: Prior-year loss on a personal residence does not affect the tax-benefit income calculation

Number
201016074
Outcome
Advice
Document type
Chief Counsel Advice
IRS subject
Tax Benefit Rule
Topics
Income and deductions
Code sections
§ 59
Ruling dated
March 26, 2010
Publicly released
April 23, 2010
Source
View Official PDF

Apply this to your situation

This page covers legal advice the IRS Office of Chief Counsel wrote for IRS staff, issued in 2010, which can't be cited as precedent. Ask about your situation and see what the current Code and IRS guidance say, with citations.

Currency note: this determination was released in 2010
Statutory amendments, regulation changes, court decisions, or later IRS guidance may have changed the analysis since then. Treat this page as historical context, not current tax advice. Verify current law before relying on any specific rule, threshold, or position mentioned here.
Not precedent. Under 26 U.S.C. § 6110(k)(3), this written determination may not be used or cited as precedent. It is advice from the IRS Office of Chief Counsel to IRS personnel on the facts they presented, and identifying details were redacted by the IRS before release. The official IRS release (linked on this page as a PDF) is the authoritative source.
About this page: The plain-English summary and ruling snapshot below were written by Ezel based on the official IRS release. The full text is the IRS's own document.
View official IRS release (PDF)

Plain-English summary

Chief Counsel Advice addresses the tax treatment of proceeds from a Road Home sale. The advice states that the relevant amount was determined to be tax-benefit income. It also states that a loss on the sale of a personal residence in a prior year does not affect the amount treated as tax-benefit income.

Ruling snapshot

  • Question: Does a prior-year loss on the sale of a personal residence reduce the amount of tax-benefit income from a later Road Home sale?
  • Outcome: Advice given
  • Key authorities: IRC § 59

Full text (IRS public release)

ID: CCA_2010032614532624 Number: 201016074
Release Date: 4/23/2010
Office: --------------
UILC: 59.07-00

From: ---------------
Sent: Friday, March 26, 2010 2:53:29 PM
To:------------------------
Cc:
Subject: RE: Road Home Sales

--------, I spoke with -------. They have determined that the $----------is tax benefit
income. The loss on the sale of home in prior year does not matter as far as the $-----
in tax benefit income is concerned, since this is a personal residence.
-

----------

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