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I got a 1099 A of a rental property with information on Box
I got a 1099 A of a rental property with information on Box 2 and Box 4 how do I report it on my tax… read more
Lev
Lev
Tax Advisor
33,748 satisfied customers
My husband and I did a quick claim deed in lieu of
my husband and I did a quick claim deed in lieu of foreclosure. We purchased the house for 50,000.00 and have rented it out until we did the quick claim deed. The realator sold it for 49900 on March 2… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
On 5/1/2003 Our oldest son, along with my wife and myself as
On 5/1/2003 Our oldest son, along with my wife and myself as co-borrowers, purchased a house for him to live in at a purchase price of $47,500.00. My wife and I did not live in the house; it was not o… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
Received a form 1099-A foreclosure that was not my principal
Received a form 1099-A for a foreclosure that was not my principal residence (helped somebody that I shouldn't have). The amount on line 2 of 1099-A Balance of Principal outstanding is $107,0056.12. T… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
i receive a 1099a and also 1099c for 2013 for my rental property,
i receive a 1099a and also 1099c for 2013 for my rental property, how do i calculate the gain or loss or how do i report… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
I surrendered a rental property after entering chapter 13.
I surrendered a rental property after entering chapter 13. FMV approx. 50,000 basis 53,191. Amount owed immediately prior to filing approx. 67,000. Haven't received 1099-c, but told not necessarily do… read more
Anne
Anne
Master Tax Preparer
1,328 satisfied customers
We had a property illegally foreclosed on, which foreclosure
We had a property illegally foreclosed on, which foreclosure the Court may overturn. The property has, however, already been 1099'd for the full amount. What does that mean for the loan on the propert… read more
Lev
Lev
Tax Advisor
33,748 satisfied customers
The bank foreclosed on my home in 2011. It was sold at a
The bank foreclosed on my home in 2011. It was sold at a fraction of the cost, roughly $62k. In Feb. 2012 I received a 1099a with the following amount on it: line 2: $233957.81 and line 4: $273719.47.… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Received on 1099A on my primary residence which went into foreclose
Received on 1099A on my primary residence which went into foreclose and I filed bankruptcy. I think I have to fill out the 982 and in part 1 choose a. But where do I get the amount for line 2. From my… read more
Lev
Lev
Tax Advisor
33,748 satisfied customers
I received two Form 1099-As from my mortgage company on my
I received two Form 1099-A's from my mortgage company on my foreclosed property. The information on the forms is as follows: Box 1) 5/4/11 2) Prin. Outstanding 57,395.86 3) blank 4) FMV 67,000 5) Box … read more
Lev
Lev
Tax Advisor
33,748 satisfied customers
I received a 1099-A for a foreclosed home that was used as
I received a 1099-A for a foreclosed home that was used as a rental property in Arizona. Box 2 listed $239,000 as the balance and box 4 listed $255,000 as FMV. The actual sale price at auction was $11… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I received a 1099A on my 1st and 2nd mortgage that was foreclosed
I received a 1099A on my 1st and 2nd mortgage that was foreclosed on. The FMV in box 4 is less than the Balance of Principal in Box 2 on the first mtg. shown on one 1099A. The FMV is the same in box 4… read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,512 satisfied customers
What do you do with a 1099A that is on a residential rental
What do you do with a 1099A that is on a residential rental property? (recourse loan) I am trying to figure out if I need to fill out a particular form and what forms would they be. This property has … read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
How do I calculate gain or loss on a foreclosed property I
How do I calculate gain or loss on a foreclosed property? I received a 1099A from the bank with an amount for the debt and alsoan amount for FMV,What is the FMV # XXXXX for?… read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
Received form 1099-A for Rental property Balance on loan 75,867.29,
Received form 1099-A for Rental property Balance on loan 75,867.29, FMV of property 59,900.00, Basis of property $ 48,766.00 (78,468.00 cost less 29,702.00 depreciation. How is this reported and what … read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
60 satisfied customers
Foreclosure on a rental property. Have rented the property
Foreclosure on a rental property. Have rented the property since 4/99. Received a 1099A that indicates a FMV of $125K loan balance of $116K. The bank sold the property for $109K. I have been depreciat… read more
RD
RD
Self Employed
Master's Degree
1,164 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 abandoned Stockton house in January 2008. The mortgage company
I abandoned Stockton house in January 2008. The mortgage company sent me financial information Pkgs to complete and i sent it back. This happened 3 times. But no response to my deed in lieu of foreclo… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,605 satisfied customers
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