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I have received Form 1099-A from 2nd mortgage, but not 1099-C, how do I file the debt canceled ?
Box 1 4/2010
Box 2 202,000.00
Box 4 160,000.00
box 5 addresss of property

The date 4/2010 was the foreclosure sale date, and the 2nd mortgage lender received 40,000.00 from sale proceed. How do I calculate the taxable income from debt cancel ?

smithsussane · Posted: Mon Aug 08, 2011 11:06 pm Post subject:

Hi MDN!

Welcome to forums!

Are you sure that your debt has been canceled? You should contact the 2nd mortgage lender and clarify whether or not the debt has been forgiven/canceled. If the lender says that the debt has been canceled, then you should ask him to provide you with 1099c form.

Feel free to ask if you've further queries.

Sussane

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I have received Form 1099-A but not 1099-C

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