Compare Mortgage Quotes

Guest

I filed a chapter 13 bankruptcy and I received a 1099A for the timeshare I had own prior to the bankruptcy. In box 2 it shows 17,000, box 4 shows 26,000 and box 5 is checked "No" meaning that I am not personally liable.

How do I file this and What forms do I use?

jameshogg · Posted: Sun Feb 20, 2011 10:23 pm Post subject:

Hi MatTax,

As you're not liable for paying the deficient balance, it will be considered as your income. However, depending upon the Mortgage Debt Relief Act, you won't be liable for paying taxes. You should contact a tax adviser and he will help you in filing the tax documents.

Thanks

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Compare Mortgage Quotes

1099A

Financial Tools

Our Community

Community Rewards

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1