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The question is about how to report a 2017 short sale of a
The question is about how to report a 2017 short sale of a single family rental property on my personal tax return. I rented the house the first few months of 2017 before the sale. Over the years, I a… read more
PDtax
PDtax
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The question is about how to report a 2017 short sale of a
The question is about how to report a 2017 short sale of a single family rental property on my tax return. BACKGROUND: I had a 1st mortgage and a separate 2nd mortgage through an equity line of credit… read more
Dr. Fiona Chen
Dr. Fiona Chen
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I am a person of indian origin and now US Citizen residing
I am a person of indian origin and now US Citizen residing and working in USA . I own one home for my main residence in USA and regularly pay its mortgage loan interest to bank and claim this mortgage… read more
Lev
Lev
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My ex-wife and I sold our joint owned home in December of 2013
My ex-wife and I sold our joint owned home in December of 2013 in a short sale. We have both received a 1099S with the sale but, have not received a 1099C, yet? I have received from the lender and the… read more
Lev
Lev
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We have a pending issue associated with trying to do a “short
We have a pending issue associated with trying to do a “short sale” and selling our home in San Mateo, California. I need sound California law and tax advice About Us My wife and daughter are Canadian… read more
Megan C
Megan C
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Charles Markham
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I completed a short sale in 2012 and received a 1099-C. I already
I completed a short sale in 2012 and received a 1099-C. I already know to claim this and that I qualify to not pay tax on the amount. I aslo received a 1098 for 40,000 which covered the arrearage inte… read more
DanielleCPA
DanielleCPA
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A tax question on a form 1098. In April 2010, I was planning
A tax question on a form 1098. In April 2010, I was planning to short sale my old house. I had married in 2007 and moved to my wife's house, and rented my old one out. I heard that to avoid tax implic… read more
Stephen G.
Stephen G.
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Bachelor's Degree
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I had a home in GA. that was Foreclosed on in June 2010 by
I had a home in GA. that was Foreclosed on in June 2010 by the Lender while in negotiations with them on a Short Sale.The house was valued at $129,0000 at the time, with an oustanding balance of $244,… read more
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If I short sell my investment property (built as spec, could
If I short sell my investment property (built as spec, could not sell, turned into rental), and the short sale lender requires me to transfer the title back into my personal name (since loan was in pe… read more
RD
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I refinanced my house in June 2009 and was going to have less
I refinanced my house in June 2009 and was going to have less than 12 monthly payment. When I paid my December mortgage payment on-line (I pay on-line each month), it appeared not to go through. When … read more
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im from california and bought a home in 2006. A year after
i'm from california and bought a home in 2006. A year after we bought the home the mortgage payment went up alot and we weren't able to make the payments. In the meantime we rented the home out and mo… read more
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I have two 1099-A from the same rental property. I had a 1st
I have two 1099-A from the same rental property. I had a 1st and 2nd Mortgage on the property. The first 1099-A has balance of Principal (Box 2) showing $208,000. FMV (Box 4) shows $142,000. Box 5 sho… read more
Lev
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Should I receive 1009-a for both 1st and 2nd mortgage from same lender
I had a foreclosure in Jan 08. I had a 1st & 2nd mtg with the same lender on the home. I received one 1099a for the 1st mtg only. I have contacted the mtg co 3x as to why I have not received a 1099a o… read more
Robin D.
Robin D.
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Need someone who is an expert with short sales. Not forclosures.
Need someone who is an expert with short sales. Not forclosures. Short sales. We had a 1st mortgage for 270,000 and a 2nd for 68,000. Total was 338,000 with same Bank. House sold under a short sale fo… read more
Ed Johnson
Ed Johnson
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i am in foreclosure. my home is to be auctioned off on dec.
i am in foreclosure. my home is to be auctioned off on dec. 10th. i owe over $500,000 combined 1st & 2nd mortgages. I have a short sale in the works w/a buyer but 2nd mortgagee wanting $10,000 more th… read more
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My 73 year old mother has a home in the country with a reverse
My 73 year old mother has a home in the country with a reverse mortgage. The current balance on the reverse mortgage is 120,000. She wants to sell the home to move into a senior apartment in town. She… read more
Merlo
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I bought some land for $50,000 and sold it several years ...
I bought some land for $50,000 and sold it several years later for $330,000 of which the buyer paid $185,000 and owner carry loan of $145,000. Is my Capital Gain for 2006 $135,000 or $280,000?… read more
Lev
Lev
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