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I had rental property that I gave back to the bank, how is this reported?
The property was 800 miles away and my daughter was managing it. She passed away and although I made trips there and did maintenance, with her gone and us getting close to retirement I wanted out. The simplest way without losing alot of money was to hire a lawyer and negotiate them taking possession. I am guessing selecting sold in 2017 isn't correct, so what is?
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June 4, 2019
6:58 PM
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Investors & landlords
Mark Sold. While you didn't dispose of the property in a "normal" sale, you did sell it to the bank.
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June 4, 2019
6:58 PM