1099 due to foreclosure considered "Passive" loss?

[LM2008]

I know this is a foreclosure forum but I had a related tax question. Does anyone know if a 1099 as a result of a foreclosure is considered a full disposal of a rental property and the 1099 income is considered a "passive" income? Can a person who lost their rental property then use any and all of their "suspended" passive losses from previous years to offset the 1099 income to minimize the tax ramifications? Are there any limits to the amount of "suspended" passive income you can use? Any tax pros out there? Any insight? Thanks.

[Moe Bedard]

Since you have an investment property I would hope that you would know a good CPA or Foreclosure Attorney familiar with the laws in your state that would be able to give you an answer to this question..........this question is beyond the scope of the expertise on this forum.............sorry......

or try the IRS website and do a search through the publications to see if your question can be answered there.............

www.irs.gov