Vacant land sale... tax issue

I purchased vacant land in a hot development that has cooled off in recent years. Origionally I thought I might build there, later I bought and built elsewhere and have kept this more as an investment. Now I would like to sell it but may have to take a loss to move it quick. Can I deduct the loss on my federal taxes, or at least use the loss to off set gains on the sale of securities?

Thanks

You can deduct the loss on the sale of the property. Losses on sales of real estate held for investment purposes are deductible as capital losses.