Posted on: 24th Feb, 2011 09:36 pm
Due to the foreclosure of my primary residence in 2010, I got 1099A. Am I qualified for forgiveness debt act?
Hi khaskhelly,
If the lender forgave the deficient balance resulting from the sale of the property, then you will be able to qualify under the Mortgage Forgiveness Debt Relief Act in regards to your taxes.
If the lender forgave the deficient balance resulting from the sale of the property, then you will be able to qualify under the Mortgage Forgiveness Debt Relief Act in regards to your taxes.