Posted on: 12th Feb, 2009 06:06 am
I received a 1099-A for 2008. the principal and fvm are the same, what does this mean as far as my liability? I did not get a 1099-C. I would appreciate any help.
Hi LB,
1099A form is issued in order to show your gain or loss resulting from the repossession of property on which you owe money. 1099 C form is issued when there is a cancellation of debt.
Thanks.
1099A form is issued in order to show your gain or loss resulting from the repossession of property on which you owe money. 1099 C form is issued when there is a cancellation of debt.
Thanks.