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jamesamccoy-icloud-com
New Member

Can I report bank foreclosure on my real estate rental as a loss?

None of the questions are like mine. Can I get a direct answer from a turbo tax professional?

1 Best answer

Accepted Solutions
Coleen3
Intuit Alumni

Can I report bank foreclosure on my real estate rental as a loss?

The IRS requires you to report the gain or loss on a foreclosure on your tax return. If your rental house is foreclosed on, the IRS views it as a sale. This requires you to report the gain or loss you incur on your tax return.

https://turbotax.intuit.com/tax-tips/rental-property/how-to-report-a-foreclosed-rental-house-on-your...

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2 Replies
carlosgilt10
New Member

Can I report bank foreclosure on my real estate rental as a loss?

you have to report it.
Coleen3
Intuit Alumni

Can I report bank foreclosure on my real estate rental as a loss?

The IRS requires you to report the gain or loss on a foreclosure on your tax return. If your rental house is foreclosed on, the IRS views it as a sale. This requires you to report the gain or loss you incur on your tax return.

https://turbotax.intuit.com/tax-tips/rental-property/how-to-report-a-foreclosed-rental-house-on-your...

View solution in original post

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