Oak View, California. Homefacts City Report. Oak View is located in Ventura County, CA. The population is 4,337. There are 1 public schools in Oak View with an average Homefacts rating of B-. The total crime rate for Oak View is very low, and there are 9 registered sex offenders residing in the city.
If you do not declare the loss and start making profits several years later and then declare the profit, you will lose out on being able to offset the losses against the profits and hence will pay more tax.f you do not declare the loss and start making profits several years later and then declare the profit, you will lose out on being able to offset the losses against the profits and hence will pay more tax.
Reporting the Sale. When you sell the home, you have to report it on your income taxes. First, calculate your gain or loss by subtracting your basis from the amount you receive from the sale. Then, report the sale on IRS Schedule D, the form used to document capital gains and losses. Finally, copy the gain or loss over to your Form 1040 tax return. You have to use Form 1040, not Form 1040A or Form 1040EZ, in the year you sell the inherited home. Get a free, confidential bankruptcy evaluation.