Do I have to pay capital gains on a property that I never made any profit on and never received any rent etc. on?
I bought a house with my sister in 2016 and we ended up selling it in January 2018 for $1,000.00 less than what we paid for it. I never lived in the house as I moved in with my fiance and we ended up buying a house together (wrote the offer in May 2018 and took possession in August 2018.) So would I have to claim capital gains as I never made a profit on the house as I sold it for $1,000.00 less than what we paid for it?