Tag Archives: 1099-A
A homeowner who has a home in foreclosure can expect to receive a Form 1099-A from the lender. This form reports all the necessary information you’ll need to file your tax return in relation to your home foreclosure. Capital Gains In the eyes of the IRS, a foreclosure is the same as if you sold […]
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There are many different Form-1099s that you may encounter when tax season rolls around. Some of the most common include: 1099-A: If your mortgage lender cancels some or all your mortgage, or your home was sold in a short sale, you’ll likely receive a 1099-A. Because the IRS considers canceled debt to be equivalent to […]
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