Posted on: 28th Jan, 2012 07:57 pm
Since the fair market value of the property is more than the outstanding loan amount as shown in form 1099-A can I use this loss (from forcecloure) to my advantage and get tax credit when filling tax return
Hi ilasaer,
Your query has been replied to in the given page: http://www.mortgagefit.com/budgeting-finance/about53876.html#283029 . Please take a look at it. I hope it will help you.
Your query has been replied to in the given page: http://www.mortgagefit.com/budgeting-finance/about53876.html#283029 . Please take a look at it. I hope it will help you.
Banks and other organizations reporting interest or dividend payments mail a 1099 notice to their customers early in a new year.
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