Foreclosures
Foreclosures
Out of context: Reply #28
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- Josev0
What do you mean, deathboy? How can debt be credited in a 1099? I thought a 1099 was a statement of earned income.
- Are you saying that the loss is reported as 1099 income and is not taxable?Josev
- do you mean a 1099-A?Josev
- thats correct until 2012. mortgage forgiveness thing. if u short sell before 2012 and bank write off debt as credit given with 1099 your clear form taxes on itdeathboy
- on a 1099 youre free from paying taxes on itdeathboy
- http://www.irs.gov/i…deathboy