Tax- unsuccessful flips

[Christina Philps]

Hi guy- I'm wondering how I should report on my tax return an unsuccessful flip?

A bit of background - I bought 2 properties out of state using hard money loans last year. Turned out things didn't go as planned and I didn't expect all the headaches dragging for too long. So I decided to cut the loss, have the hard money lender take ownership of both properties so I could just walk away. 

So does it mean I have actually "sold" a property? If yes what would be the selling price I need to file in this case? (I don't have an exact figure since I let the lender evaluate the value of the properties and close the transfer on his own so he could take them off my hands). If not what would be the proper situation here in terms of tax filing? 

-Thank you all!