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Hello James, Still confused.The $$ amount on line four is $48,300.30 highe

Hello James, Still confused.The $$ amount on line four is $48,300.30 higher than the $$ amount on line two.Do I owe taxes on this amount??.Can I offset with reciepts of home improvements??.Is a section 121 exclusion a possibility? Thank you, Brian

Asked on 12:00 am Feb 9th 2011

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Hi Guest!

Welcome to forums!

Please let us know which form you have received - 1099A or 1099C. This will make your query clear to us and it will be easier for us to give a reply to it.

Feel free to ask if you've further queries.

Sussane