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I am in the process of trying to sell my primary residence and it looks like I will have to sell it at a loss. I am being told that this isn't tax deductible. Has anyone heard if the govt is working on changing this rule?

I need to move into a bigger place but, I can't say that I will be there for more than 5 years. I don't really care about making money on the place but, I also don't want to deal with taking another loss in the future. If they change the rule it may be an easier pill to swallow.

Any insight would be greatly appreciated.

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I don't know for sure, but you might be able to write off the loss if you're classified as a dealer. In your case, that wouldn't apply since you lived in the house as a primary residence.

Have you considered renting the house out? Even if you rent at a small negative cash flow you MIGHT be able to weather the storm for a year or three. Might not be worth the trouble though.