Own 2 homes; selling oneI had to move due to a new job 4 years ago. I purchased a new home and put my first home on the market, but it never sold. Now, 4 years later, it is about to sell. I am selling at a $70K loss on the original construction price (I built it). Question: my first house no longer qualifies for living in it "2 of the past 5 years" rule in terms of being a residence. Is it now considered an investment/commercial property? And if it is, can I take the overall loss as a deduction?jwMay 19 2012 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.