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    #1

    Foreclosure Rental Property

    Client has three rental properties that are in foreclosure. One of the rental property he received a 1099A. The other properties are still being processed. Client no longer have the properties. In order to get properties out of client name, he must show a sale of property. My question is, can client still show the depreciation losses until foreclosure is complete? If not, how will rentals that are in foreclosures be processed?

    Thanks
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