2008 homebuyer tax repayment questions?
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A homeowner bought a house in 2008 for $112,500 but foreclosed in 2010 when the bank auctioned it for $121,000 to cover their mortgage debt. They also filed for bankruptcy in 2009 and are confused about receiving a 1099-C tax form instead of a 1099-A for their foreclosure and debt forgiveness.
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2008 homebuyer tax repayment questions?
- 1. 2008 homebuyer tax repayment questions? We bought a house in 2008 for 112500 and forclosed in 2010 the bank auctioned it t off for over our debt to the mortgage company 121000 burtgage. we also filed b ankruptcy in 2009. I am so confused. Please help. We will not recieve a 1099-C o nly a 1099-A. SOLUTION Find the best solutions and providers for you at: