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    #1

    Rental Real Estate Foreclosed

    What happens to suspended losses for rental real estate (residential) when it is not sold - but foreclosed?
    My client has not been able to rent the premises out in over a year and doesn't have sufficient funds of his own to pay the mortgage (which includes escrow for taxes).
    Uncle Sam, CPA, EA. ARA, NTPI Fellow
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    #2
    I always take the suspended loss on a foreclosure - never had problems.

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      #3
      Foreclosure = Sale

      A foreclosure IS a kind of sale. The owner "sells" the property to the lender for the amount due on the loan.
      Roland Slugg
      "I do what I can."

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