Paul Jacome Posted February 4, 2009 Report Share Posted February 4, 2009 Have a client who purchased three rental properties in 2007. For reasons that need not be explained the timing was bad. The mortgage companies have repossessed the properties the dates of which I'm not privy to at the moment in 2008. The client has not received anything regarding the Cancellation of Debt. In order to complete his return for 2008 I need to arrive at the FMV of each property and I don't know how to go about doing that. Would really appreciate some assistance. Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted February 4, 2009 Report Share Posted February 4, 2009 The property appraiser's office would be of help once you find out the dates. taxbilly Quote Link to comment Share on other sites More sharing options...
Bart Posted February 5, 2009 Report Share Posted February 5, 2009 The mortgage companies have repossessed the properties Did the mortgage companies issue a 1099-A? Quote Link to comment Share on other sites More sharing options...
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