If you’ve had a foreclosure, short sale, Deed in Lieu or a bankruptcy, you could be dealing with 1099-A and/or 1099-C issues. How you report this income on your tax return is vital if you want to take any tax exemptions that may be available. But the industry is still chaotic, and people report missing 1099 forms, incomplete ones, or incorrect ones. What happens in those cases?
Learn the 7 things to be aware of with respect to debt forgiveness in this 60-minute teleseminar with Diane Kennedy and Megan Hughes.
Link to more information on states that have decoupled from federal tax legislation regarding Cancellation of Debt Income