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Old 03-29-2008, 10:55 PM
 
1 posts, read 8,590 times
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I had my investment rental property foreclose on me due to a divorce last year my question is can i write off the loss on the house it was valued at $380,000 and i foreclosed it for $310,000. i know you cant on a primary residence but it was a Rental and had been for the last 5 years. any help would be great thanks Chris
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Old 03-30-2008, 10:06 AM
 
69,368 posts, read 63,824,713 times
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Quote:
Originally Posted by Chrissjbfd View Post
I had my investment rental property foreclose on me due to a divorce last year my question is can i write off the loss on the house it was valued at $380,000 and i foreclosed it for $310,000. i know you cant on a primary residence but it was a Rental and had been for the last 5 years. any help would be great thanks Chris
I'm not sure I'd take any posting on a thread as valid when talking about tax issues. (not a very good defense to jail.. )

I would suggest you talk to your local accountant about how to handle this, and the accountants fee you can write off
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Old 09-09-2008, 03:21 PM
 
Location: Fort Myers, FL
1,286 posts, read 2,906,359 times
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i would suggest calling a CPA regarding this. This should have been something you would have dealt with this years filling.
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Old 09-11-2008, 03:07 PM
 
5,339 posts, read 14,072,615 times
Reputation: 4694
Quote:
Originally Posted by Chrissjbfd View Post
I had my investment rental property foreclose on me due to a divorce last year my question is can i write off the loss on the house it was valued at $380,000 and i foreclosed it for $310,000. i know you cant on a primary residence but it was a Rental and had been for the last 5 years. any help would be great thanks Chris
If it was valued at $380k why would you be foreclosed upon for $310...why didn't you sell it for the $380k? I am guessing because there were no buyers at $380k or even at the $310k. So why would you get a write off??
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