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tax-doctor
tax-doctor, Tax Preparer
Category: Tax
Satisfied Customers: 637
Experience:  Federal, State and local income tax preparation
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If a home "sale" due to foreclosure results in no gain or loss

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If a home "sale" due to foreclosure results in no gain or loss because of the way the gain and loss calculations work out and only one borrower receives a 1099-A with both his name and his Mom's name on it but only his SSN, is there anything that would need to be filed wrt the foreclosure on the co-borrower's return (only the borrow with the SSN on the 1099-A filed Schedule E's in prior years, etc.)?

tax-doctor :

hello, my name is XXXXX XXXXX I'll be happy to answer this question for you

tax-doctor :

No, everything would go under primary in this case

Customer:

Cool that is what I thought, thanks.

tax-doctor :

you're welcome!

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