Compare Mortgage Quotes

Guest

box 2 526.662.17
box 4 551,228.21
box five yes

do i have to report the difference in my tax return as income...please help !!!!!!!

jenkin7 · Posted: Mon Mar 08, 2010 12:29 am Post subject:

Hi pantaleon,

The box no. 2 shows the principal mortgage amount you owe and the box no. 4 shows the fair market value of the property. If the fair market value of the property is greater than the principal balance you owe, you will not be required to pay any taxes as you do not have any income from discharge of debt. So, you do not need to report this in your tax return.

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