I received a 1099-A form for a house we foreclosed on in CA. How is this going to affect my tax return? related questions

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I received a 1099-A form for a house we foreclosed on in CA. How is this going to affect my tax return?1e.c2012-09-11 06:27:05
I received this email the other day and I do not know what it means. The outstanding prinicipal ( Box2 ) says $ 407,778.33 and the fair market value ( box4 ) says $ 324,160.00 . In Table 5, it is said that I was responsible for the repayment of debt. Some people say I have to pay taxes on the difference and some say no because I do not own anything and why not doing enough ( about $ 25,000 this year ) . Then I read somewhere you should not report it on my taxes because I could get a 1099- C after. I basically do not know what to do with this. Do I have to report now or should I wait ? How will it affect my taxes ? Will I get back more or less ? Does anyone know of an informational tax preparers and affordable in Southern California? Any help will be appreciated :) MedlinePlus MedlinePlus PS Some may wonder what I was thinking to get a house loan in my name , and not being married and not make much money . Well , I did it for my parents , I could not get a loan and had nowhere to live . Basically , I lived in two different hotels for a month and I was the last resort. I had to do what I had to do for my fam .
I have lost my Income tax Return Form & form 16 for last 2 years.I have not filled this forms online.pl.help?2Antiono Gipson2012-10-15 14:33:02
Do I need it urgently for my processing loans . He had filled this form by the conventional method . Does anyone know how to get duplicate forms and forms ITR 16.
Who gets a 1099-INT form?1sachi2012-09-23 21:19:03
Our company , by my father , gave out loans to two family members or friends . One was only in regard to its general business .... and each year , our uncle pay 3 % interest on the loan over $ 60,000 . So the guy who owns this car rental busness private enterprise pays about $ 1,800 a year . The second loan was lower and a family friend for his roof of his house . Since she has not paid , pays about $ 300 a year in interest on our company . We are not a bank, only privately . Do you have or my uncle or friend get 1099 - INT ?
Question about 1099-A Tax Form (AGAIN)?0lollicupy2012-09-30 16:54:07
You think I'm stupid when it comes to this, because I 'm responses , but I still do not understand how this is going to affect my taxes . I called the IRS to try to get some answers , but all they did was transfer me from one department to another for 65 minutes , then when I got someone , all he did was recite some IRS forms , he said he would fill all of them , but still did not get my question answered . MedlinePlus MedlinePlus So my question is , does anyone know how much I 'm going to have to pay for my 1099 - A? I realize that corresponds to foreclosure . We moved into the house in 2003 and moved in 2008 , the house was born April 12, 2010 , sold on August 30, 2010 . MedlinePlus MedlinePlus Principal balance outstanding is 213,434.76 MedlinePlus Fair market value is 242,931.62 MedlinePlus The box is marked yes " if the borrower is personally liable for the debt repayment . MedlinePlus On my credit report , the loan account is closed , and reportedly was taken back guarantee . MedlinePlus MedlinePlus We have presented a depreciation of the home in the amount of $ 3,000 for tax year 2008 . MedlinePlus MedlinePlus If anyone can help me and give me an estimate of how much we owe , I'll be very grateful . Thank you !
Question about 1099-A Tax Form (AGAIN)?0Kathy2012-10-06 04:03:06
I think I'm dumb when it comes to this, because I 'm responses , but I still do not understand how this is going to affect my taxes . I called the IRS to try to get some answers , but all they did was transfer me from one department to another for 65 minutes , then when I got someone , all he did was recite some IRS forms , he said he would fill all of them , but still did not get my question answered . MedlinePlus MedlinePlus So my question is , does anyone know how much I 'm going to have to pay for my 1099 - A? I realize that corresponds to foreclosure . We moved into the house in 2003 and moved in 2008 , the house was born April 12, 2010 , sold on August 30, 2010 . MedlinePlus MedlinePlus Principal balance outstanding is 213,434.76 MedlinePlus Fair market value is 242,931.62 MedlinePlus The box is marked yes " if the borrower is personally liable for the debt repayment . MedlinePlus On my credit report , the loan account is closed , and reportedly was taken back guarantee . MedlinePlus MedlinePlus We have presented a depreciation of the home in the amount of $ 3,000 for tax year 2008 . MedlinePlus MedlinePlus If anyone can help me and give me an estimate of how much we owe , I'll be very grateful . Thank you !
What to do with 1099-A I received?2vanessa68802012-10-14 01:00:02
I just got a 1099 - A. The property was in my name in foreclosure in 2007 . I had two loans on the property , both in the same bank for a total of 400K ( 320K was first and second was to 80K ) . The property was not my residence . MedlinePlus MedlinePlus Table 2, 1099 - A says principal balance outstanding 319K and box 4 states that the fair market value of the property 404K . Box 5 is checked if ( personally liable for the repayment of debt) . MedlinePlus MedlinePlus What exactly does this form and these numbers mean ? I read the back of the web pages 1099 - A and several, but none of this makes sense to me . Do I have to claim the difference of 404K and 319K as income, pay taxes on it or what? I have not talked to a tax specialist yet because
I still have not received my 1099's from my former employer!! What do I do!?!?!?0mallard2012-09-03 00:11:04
What I can do? I've made ​​three attempts , and they tell me to send them . I'ts been over a month since the last time you called me ! Now what ? I have worked as a loan processor . Never pay stubs, it was always in cash / check . ? I can present my tax return without them ? My former employer can not get in trouble for that?
I still have not received my 1099's from my former employer!!?4gianina2012-11-02 14:42:02
What I can do? I've made ​​three attempts , and they tell me to send them . I'ts been over a month since the last time you called me ! Now what ? I have worked as a loan processor . Never pay stubs, it was always in cash / check . ? I can present my tax return without them ? My former employer can not get in trouble for that?
Do I need to file a Form 1099-C for a loan I made?1 - In fact. -2012-10-20 23:59:02
I lent a friend some money . She made some payments , but stopped . She signed a promissory note and I have done a fundraising effort , all documented . I want to take the loss of short-term capital ( bad debts ) in 2007 my taxes . Do I have to file Form 1099 - C with the IRS , or only do banks / mortgage companies to submit that form?
Why is it so hard to get loan with a 1099 tax return?0Evette Johnson2012-09-17 09:16:06
I got tired of getting a loan for a house was $ 64,900.00 do over 38,000 a year , but because I have a 1099 for my taxes and not much time to train as much as I can off say I do not have enough with the bill All I have to be a car loan of 315.00 a month that pays 350.00 per month. Not even pay the rent and save $ 1,000 a month ! And we wonder why nobody is buying homes in Florida .
I received a 1099A and 1099C for a foreclosed rental home?0Lidsay2012-08-24 09:38:04
I had rented house in 2005 , the original price was $ 305,000 , $ 13,411 depreciation . She was executed in 02/2009 , I received a 1099A and 1099C MedlinePlus . - 1099A : MedlinePlus Box 2 shows the principal balance outstanding capital : $ 230,000 ( my first loan balance ) MedlinePlus case 4 FMV : $ 241,000 , MedlinePlus marked box 5 : If MedlinePlus - 1099C : MedlinePlus Box 2 amount of the canceled debt : $ 28.944 ( my second loan ) MedlinePlus Table 5 . borrower was not personally liable for the repayment of debt MedlinePlus Could you please tell me which number will go on line 21 of Form 1040: $ 28,944 or $ 17,944 ( $ 230,000 + sum of $ 28.944 minus $ 241,000) MedlinePlus ? I can use Form 4797 Schedule D and E or programming of this rental house mortgaged . MedlinePlus Thank you very much .
How to file 1099-R to deceased spouse on my return.?1grandall2012-09-21 01:38:03
I received a 2008 1099 - R to my husband , who died in 2007 , in the amount of a loan he took from his 401K that year , for the purchase of a van . I followed and still have the truck and advised , after his death when automatic deductions from your paycheck for payment could not be made to allow the loan default , and pay taxes on income from this year . The 1099 was addressed to his name and social security number , and that the loan was in his name . Our last joint return was filed last year for 2007 , the year he died . The default was in 2008 and 1099 . How do I file the 1099 , addressed to him , with my personal statement this year for 2008?

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