Compare Mortgage Quotes

Guest

Hi... I have a 1099-A indicating a Principal of $230K, and Fair Market of $249K with a date of abandonment of March 2010. However, I'm not longer living in the US since August 2009, so I don't have any income at all to report for year 2010, only this form.

What should I do? What form should I use and what information to include? Please help!!!

Thanks!

Meg Crying or Very sad

gmakerley · Posted: Tue Feb 15, 2011 1:56 pm Post subject:

Meg, inasmuch as you're no longer residing in the US, it would make sense that you'd not need to file a federal income tax return for 2010. Of course, if the lender that issued the 1099 to you is correct, then there might be some liability on your part, though you clearly won't be showing income, as you noted.

I would think your best bet is to be in contact with the IRS directly to nail down this information. If it's not viable for you to contact them, perhaps you have had a tax advisor with whom you've worked in the past - who could do this for you.

Getting the information straight from them will alleviate lots of problems, I'm sure.

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

Compare Mortgage Quotes

HELP

Financial Tools

Our Community

Community Rewards

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1