Posted on: 22nd Feb, 2012 12:45 am
I did a short sale on my primary residence that closed Dec 28th 2010. I received a 1099C form on February, 2012 for the deficient amount. However, the form was dated January, 2011. The paperwork from the escrow company says the date the transaction was completed and funded was Dec 28th. Do I have to go back and now file an amended return with this amount for 2011? Or since it is dated 2011 is it reported this year? Since it was my primary residence, I should not have to pay taxes on this amount, is that correct?
Hi John,
As far as I know, your creditor/lender will have up to three years to give you a 1099 C. As you have received a 1099c form now, you should contact a tax adviser and take his opinion in this matter. The tax adviser will help you know whether or not you will be able to submit it while paying tax this year or go for an amended tax filing for the last year.
Take care
As far as I know, your creditor/lender will have up to three years to give you a 1099 C. As you have received a 1099c form now, you should contact a tax adviser and take his opinion in this matter. The tax adviser will help you know whether or not you will be able to submit it while paying tax this year or go for an amended tax filing for the last year.
Take care
Hi John!
Welcome to forums!
I don't think you need to file an amended tax return. As fas as I know, you may file it with your present tax return. Nevertheless, as Sara has said, consulting a tax adviser will definitely be a good option.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I don't think you need to file an amended tax return. As fas as I know, you may file it with your present tax return. Nevertheless, as Sara has said, consulting a tax adviser will definitely be a good option.
Feel free to ask if you've further queries.
Sussane
If you have passed this statute of limitations, you're not going to get paid. If you believe that you filed your amended return within this time limit, call the IRS at 1-800-829-1040 and they should be able to help.
GoD Bless :idea:
GoD Bless :idea:
