---

1099c

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
tamir920 Joined: 25 Apr 2011 Posts: 1 1.34 Dollars($)	Posted: Mon Apr 25, 2011 12:08 pm    Post subject: 1099c Like 0 Dislike 0 My mortgage company issued a "Certificate of Release" with the county recorder and satisfied my mortgage in October 2010. I received a 1099c last week with line 2 $98,000 Line 7 FMV was $15,000.. Not sure what to do or if I owe any taxes if the property was release to me? Can anyone Please Help.....
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Apr 25, 2011 7:26 pm    Post subject: Like 0 Dislike 0 Hi tamir! Welcome to forums! If you have paid off the mortgage in full, then you shouldn't have received this tax form. This is normally given to those borrowers whose debts are forgiven by the lender. You should contact your lender and your tax adviser in this matter and sort out the matter. Feel free to ask if you've further queries. Sussane
Guest	Posted: Mon Apr 25, 2011 7:51 pm    Post subject: Like 0 Dislike 0 That's what I thought. Is this still the case when the mortgage company gave me the house? I got the judge to dismiss a foreclosure and that is when the mortgage company issued the certificate of release and the paper that says satisfied payment?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Apr 25, 2011 10:57 pm    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! I guess the lender has forgiven the debt. As a result you've received the 1099c form. You'll be liable for paying the taxes. Sussane

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0