How do i enter this 1099a on my taxes and or do i have to if i owed less than the fair market value?

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How do i enter this 1099a on my taxes and or do i have to if i owed less than the fair market value?

2007-03-14 13:49:22 · 2 answers · asked by dsasso04 1 in Business & Finance ➔ Taxes ➔ Other - Taxes

2 answers

What is it..............that helps to know. If you gained you need to include it so you can pay tax on it. And if you lost than that is a deduction in your favor

2007-03-14 13:53:45 · answer #1 · answered by Nagitar™ 7 · 0⤊ 1⤋

I don't know what kind of 1099 you are talking about or what kind of income. If it is from a sale, you have to report it to show whether you had a gain or a loss. Whatever it is, if its on a 1099 it has been reported to the IRS and you have to include it on your tax return.

2007-03-14 14:10:40 · answer #2 · answered by irongrama 6 · 0⤊ 1⤋