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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.
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.
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