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I want to file a 982 form against the 1095c I got but the
I want to file a 982 form against the 1095c I got but the tax preparer said I couldn't but I was told I could for insolvency and I'm in an active bankruptcy… read more
Lane
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Second opinion] I filed my taxes already and am getting a
Second opinion] Hi. I filed my taxes already and am getting a 3,639 tax refund this year. However, I got a 1099 C form from a vacation club I cancelled last year because I couldn't pay it. In box two … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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I got a 1099-c,, We sold a rental property on a short sale
I got a 1099-c,, We sold a rental property on a short sale The amount of debt discharged was $60847.37 (box 2) The fair market value (Box 7) was $55000. Box 6 was marked F. How do I enter this on my t… read more
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I had some debt cancellations from credit cards that I had
I had some debt cancellations from credit cards that I had with a debt settlement company. I got a 1099C today in the mail-Will I have to pay taxes on the all the debt cancellations … read more
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Sale of my home in 2016 was a short sale. It sold for &700K
Sale of my home in 2016 was a short sale. It sold for &700K (in CA). All of that went to the lender. Approximately $400K of debt was forgiven. Got a form for that from the mortgage holder. However, I … read more
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I filed bankruptcy on two jointly owed rental properties
I filed bankruptcy on two jointly owed rental properties with my spouse. My spouse was a codebtor on the mortgages but did not file bk. The underlying mortgage debt was discharged in 2014. Now, I am r… read more
Anne
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1099c cancellation of debt from foreclosed Timeshare.
My client has a 1099-C cancellation of debt form from a Timeshare that was foreclosed. The amount of debt was $18,000 and the fair market value was $24,449. Box 5 is checked and Box 4 says Vacation Ow… read more
Lev
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A Form 1099-C was received for short sale of vacation home
A Form 1099-C was received for short sale of vacation home during 2010. The amount of debt cancelled was $109,000 in box 2, interest included of 2,086 in box 3, and Box 5 on 1099-C was checked "no" th… read more
Zip Taxes
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A Form 1099-C was received for short sale of vacation home
A Form 1099-C was received for short sale of vacation home during 2010. The amount of debt cancelled was $109,000 in box 2, interest included of 2,086 in box 3, and Box 5 on 1099-C was checked "no" th… read more
Jacy
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I sold my main home to the bank with a deed in lieu of foreclosure.
I sold my main home to the bank with a deed in lieu of foreclosure. I got a 1099-a from the mortgage company and am having trouble figuring out how to include in my taxes. Also, can I claim the intere… read more
Lev
Lev
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Hi, I live in Utah and am attempting a short sale on my
Hi, I live in Utah and am attempting a short sale on my home. We have recieved an offer for 100K, and owe approx 165K. We have missed the last couple of payments. If the short sale is accepted I under… read more
Merlo
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I had a short sale of my condo in California in July 2009. The
I had a short sale of my condo in California in July 2009. The lender says they are not issuing me a 1099-C because they are not claiming it as a loss (The condo sold for $110,000 less than I borrowed… read more
Lev
Lev
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I was discharged in a chapter 7 in 2008 (personal). I
I was discharged in a chapter 7 in 2008 (personal). I received a 1099-C from a bank in Sept. 2009 (for 2008) entitled - Cancellation of debt for $20,000. Box 1 says - date canceled 11/18/08 Box 2 says… read more
Merlo
Merlo
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I need your help. I just asked a question and feel like I did
I need your help. I just asked a question and feel like I did not get the right answer but a form answer..I told him that I got a 1099 and so did my husband for a SHORT SALE on our house last year..he… read more
Merlo
Merlo
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Hi Sorry to bother you..I am in need on a BIG help question Last
Hi Sorry to bother you..I am in need on a BIG help question Last year we sold our house in a short sale. April of 2009. Today we received in the mail two 1099-C for $111,186 one for my husband and one… read more
Merlo
Merlo
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I received a 1099-C form for a timeshare I had deeded back
I received a 1099-C form for a timeshare I had deeded back in lieu of foreclosure in 2008. They cancelled it in September of 2009. Do I have to pay taxes on this? The hospital I worked at closed and I… read more
Lev
Lev
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Hi, for a California non-recourse foreclosure, a person should
Hi, for a California non-recourse foreclosure, a person should only receive a 1099-A with box 5 checked as No (Not personally liable for the debt), and a 1099-C should not be issued as there is no can… read more
Ed Johnson
Ed Johnson
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although i have no savings and make a modest living, i had ...
although i have no savings and make a modest living, i had a cancellation of debt on my taxes and the irs wants me to pay what amounts to roughly 90%of my yearly net income. i hadnt filed bankruptcy a… read more
Lev
Lev
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