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.
Loss from personal home is not deductible. If you have a profit then you may have to report sale on schedule D (Form 1040) if you do not meet the conditions for $250,000 income exclusion. If you owned your main home for two years and lived for two years in past five years, then you can exclude gain of up to $250,000.