Posted: Fri Oct 30, 2009 11:01 am Post subject: Deed in Lieu
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I filed for bankruptcy in March of 09 it was discharged in July of 09. When at my bankruptcy hearing, I expained that I could no longer keep my rental property, and now will be using the "Deed in Lieu of Forclosure". How ugly will my taxes be? I am not sure how taxes will apply to this situation. Having to have filed for Bankruptcy means I have no money.