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marysnl
New Member

I owned a deed of trust that was foreclosed on and sold at auction were and how do I claim this money on my taxes

 
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2 Replies
M-MTax
Level 11

I owned a deed of trust that was foreclosed on and sold at auction were and how do I claim this money on my taxes

A deed of trust is a type of mortgage. If it was foreclosed the lender should send you a statement for tax reporting.

I owned a deed of trust that was foreclosed on and sold at auction were and how do I claim this money on my taxes

What do you think you would claim? If you had a loss, it won’t be deductible. If you had a capital gain, that will be taxable regardless of whether you get any paperwork from the auction company. You need to know the gross amount of the sale.

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