Loss of value due to being flood plain

[TwoPockets]

I purchased a home in 1985, survey and contract indicated house was not in flood plain. I sold home in 1999, new survey showed home in flood plain and had been since 1982. Being up front with all potential buyers, I finally sold home at well below appraised value. Can this be shown as a loss on taxes? Any recourse against original realtor since it had been so long?

 

[ALawyer]

Taxes are imposed on the difference between purchase price and sale price. The government does not care what you could have bought or sold it for without the error.

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