Property Tax Foreclosed Homes
July 17th, 2008
Property Tax Foreclosed Homes
Question: did 2009 tax return already, yet got 1099a from foreclosed/chapter 7 discharged property in march 09?
i had 2 homes which i got discharged in nov 08. i did my tax return online myself and got a very little refund. well today i got this 1099a from one of the home (didn't get from the other home) from a bank.
i'm so lost. what am i supposed to do with this....? bank sold the house. it says balance is 372k but fair market value is 369k.
oh alas. what do i do now.
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Answer: What to do with it depends on your personal situation. Please review the following IRS publications and if you still have questions, call the 800# below.
http://www.irs.gov/pub/irs-pdf/p544.pdf
http://www.irs.gov/pub/irs-pdf/p4681.pdf
If you need further assistance, call the Tax Practitioner Hotline at 1-866-860-4259.
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Posted in Foreclosed Homes | 
Tags: buy, fast, foreclosed, Foreclosed Homes, foreclosed property, Foreclosure, home, Property Tax
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