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I am your monthly member. I need to get a better idea from
i need to get a better idea from your professional … read more
Lev
Lev
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Bachelor's Degree Equivalent
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My question is regarding a tax return with form 1099-c
Hello, My question is regarding a tax return with form 1099-c (short sale) which qualifies for real property business debt. Now I'd like to know how to properly file form 982 and which other forms are… read more
Lev
Lev
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Bachelor's Degree Equivalent
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A couple purchased building lots for $44000 in northern WI
A couple purchased building lots for $44000 in northern WI in 2008. There intent when purchasing could be considered two-fold, either as a future building site, or as investment property to be re-sold… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I sold a rental condo in 2013 for 109K. The condo cost 215K
I sold a rental condo in 2013 for 109K. The condo cost 215K in 2007. All depreciation was straight line. I received a 1099 C for cancelled debt for $63K on the sale in 2013. Am I correct that the 1099… read more
Tax.appeal.168
Tax.appeal.168
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Need CPA working on my taxes Need to understand the exception
Need CPA working on my taxes Need to understand the exception on 1099c and 1009a in Basic english and real time numbers Qualified acquisition indebtedness is 1.debt incurred or assumed to acquire, con… read more
taxmanrog
taxmanrog
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What do I report where on my individual tax return? I bought
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R. Klein, EA
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Background: Short-sold a AZ rental property in 2011. Im
Background: Short-sold a AZ rental property in 2011. I'm looking for the definitive answer on how to file on my taxes. Since it was in AZ, it was a non-recourse loan. My current best understanding of … read more
BK-CPA
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HI ROBIN CAN YOU PLEASE HELP ME WITH MY FIRST CANCELLATION
HI ROBIN CAN YOU PLEASE HELP ME WITH MY FIRST CANCELLATION OF DEBT QUESTION. TAXPAYER HAS RENTAL PROPERTY (SINCE 2006) THAT HE RECEIVED A 1099 S BOX 2 GROSS PROCEEDS OF $ 72K AND (2) FORM 1099C, ONE I… read more
Anne
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I DID A SHORT SALE LAST YEAR AND I RECEIVE A 1099-C IN THE
I DID A SHORT SALE LAST YEAR AND I RECEIVE A 1099-C IN THE AMOUNT OF 220,000 BOX 2. & 1099-S IN THE AMOUNT OF 92,000 BOX 2. I PURCHASE THE RENTAL PROPERTY FOR 325,000 IN 2006 I BELIEVE THE 1099-C INFO… read more
Lev
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In 2009 a 1099-A was issued due to a foreclosed residential
In 2009 a 1099-A was issued due to a foreclosed residential income property. On the 2009 tax return a Form 4797 was completed showing the sale of the property, recording a gain. The sales price used w… read more
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My received a 1099A in 2009 related to her foreclosed home from the Fannie Mae 1st secured lender. It lists the Fair Market Value of her abandoned property at $323,000 and the amount owing as $308,000… read more
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Wallstreet Esq.
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My divorce was settled in the year of 2009. During the divorce
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Robin D.
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2 separate items related to Rental Prop 1st I recd 1099C
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socrateaser
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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
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Bachelor's Degree Equivalent
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Apart from a Final Form 1065, is there any other tax forms
Apart from a Final Form 1065, is there any other tax forms that must be filed when a 50% partner (an individual)transfers his interest to the other 50% partner(a partnership)? The only asset has been … read more
Ed Johnson
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I sold a house in Maine on June 2, I split the lot at ...
I sold a house in Maine on June 2, I split the lot at he Sale and one party bought part of the land ithe the home my spouse and I occupied, another party purchased the house and a smaller section of l… read more
Ed Johnson
Ed Johnson
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Bachelor's Degree
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Last Year 2004 tax year I made arrangements to close 2 ...
Last Year 2004 tax year I made arrangements to close 2 credit accounts and paid less than what was owed. I recieved 1099-C for both accounts and the owed amount - the amount I paid... I did not includ… read more
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Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

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

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Richard

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Robin D.

Robin D.

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Megan C

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jgordosea

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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.

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