Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

Related Tax Questions
We started HAMP modification process in December 2016 - and
Hi. We started HAMP modification process in December 2016 - and was finalized in January 2017. As part of HAMP our 2nd mortgage was forgiven. Although HAMP expired December 31, 2017 we were told the b… read more
abci168
abci168
Principal
27 satisfied customers
I received a 1009-c from my mortgage company and this is the
Second opinion] hello, i received a 1009-c from my mortgage company and this is the last step on my tax return. not sure how to enter it. not sure if i should be excluding the cancelled debt from taxa… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I received a 1009-c from my mortgage company and this is the
hello, i received a 1009-c from my mortgage company and this is the last step on my tax return. not sure how to enter it. not sure if i should be excluding the cancelled debt from taxable income or if… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,767 satisfied customers
I was offered and accepted a non-harp loan modification. I
I was offered and accepted a non-harp loan modification. I was not in bankruptcy or insolvent. They reduced my principle loan amount on my first mortgage by approx 42k. They did send me an 1199-C (F-b… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
A deceased taxpayer received two 1099-Cs. One dated before
A deceased taxpayer received two 1099-Cs. One dated before death and one dated after death. Are the 1099-Cs reported on the final 1040 for before death and the other reported on 1041 for the estate?… read more
abci168
abci168
Principal
27 satisfied customers
Got my 1099-C for short sale in 2012.....I have always done
Got my 1099-C for short sale in 2012.....I have always done my own taxes, but I need help here. Need to know what forms for this. So far, my research shows 982 and 4797? Bought in 2007, sold in 2012. … read more
PDtax
PDtax
Owner
Master's Degree
1 satisfied customers
Hi. I recd a 1099-A and blocks 2 and 4 are equal. Since its
Hi. I rec'd a 1099-A and blocks 2 and 4 are equal. Since it's pretty obvious I don't have a tax liability as a result, I'm wondering if there are still tax forms/schedules I have to fill out (982, Sch… read more
abci168
abci168
Principal
27 satisfied customers
For purposes of determining if taxpayer is to be taxed on any
For purposes of determining if taxpayer is to be taxed on any depreciation recapture from business use of home: Taxpayer short sold his principal residence in 2011. Received two 1099-C forms totaling … read more
fastfile
fastfile
Tax Advisor
Master's Degree
550 satisfied customers
I had a short sale go through in October 2011 for what used
I had a short sale go through in October 2011 for what used to be my primary residence. My ex-wife and I got divorced in early 2010 and the property was in both of our names. She remained in the prope… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
How to report cancellation of debt on rental property?
I received a 1099-C for my rental property that I held for over 1 year. According to the worksheet provided in IRS Publication 4681 I was insolvent just prior to the debt being canceled. My question i… read more
Dr Arthur Rubin
Dr Arthur Rubin
Doctoral Degree
24 satisfied customers
I have a form 1099 2008 Form showing # 2 Balance of Principal
I have a form 1099 2008 Form showing # XXXXX Balance of Principal outstanding $ 845,522.56 # XXXXX 100.00 Fair market value I am told to fill out form 982 Reduction of Tax Attributes due to Discharge … read more
Chad Oberg
Chad Oberg
Director
Bachelor's Degree
172 satisfied customers
I am not insolvent but need to move. My home is in California
I am not insolvent but need to move. My home is in California and we are weighing foreclosure against short sale. My understanding is both options end with a 1099 (A and C) and I understand the credit… read more
Chad Oberg
Chad Oberg
Director
Bachelor's Degree
172 satisfied customers
my home in california foreclosed last year. i had a primary
my home in california foreclosed last year. i had a primary mortgage of $325,684 for which i received a 1099-A (Acquisition or Abandonment of Secured Property). i also received a 1099-C (Cancellation … read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
I received two 1099-a for the same RENTAL property. House
I received two 1099-a for the same RENTAL property. House in AZ non-recourse state. Both for the same property and both loans taken out the same time for the home. 1st 1099a Box 2 198,669.83 Box 4 137… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I got a 1099a form from a foreclosure on a second home. I need
I got a 1099a form from a foreclosure on a second home. I need to know what to do with it. Do I need to wait for a 1099c? Since the fair market value is considerably lower than the loan amount, what t… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Hi. This is re form 982. I have 1099c for 16,120 cx mortgage
Hi. This is re: form 982. I have 1099c for 16,120 cx mortgage debt. Was a primary 2 out of 5 years, but rented 9 months, then renters abandoned. House was repossessed 08/08. The mortgage was an 80/20 … read more
Chad Oberg
Chad Oberg
Director
Bachelor's Degree
172 satisfied customers
I have recieved an offer from my second mortgage lender to
I have recieved an offer from my second mortgage lender to settle my mortgage of 195k for 15k. I know I will recieve a 1099c for the difference. My question is does the 2007 mortgage debt relief act a… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I bought my house for $420,000 but it is now worth $180,000.
I bought my house for $420,000 but it is now worth $180,000. If I walk away from it (advice I have been getting from a few 'financial geeks'), do I have to pay tax on the difference? The first is for … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

18,654 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x