2007-12-14 06:51:33 · 4 answers · asked by Mec C 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
What you are experiencing is a common problem. They may not file the 1099A or 1099C until very late in the season or beyond. Depending on the circumstances you may not even know the numbers from your records. Contacting the lender may give you some guidance. If you don't receive any thing from the lender by tax time you may wish to file a return with the best available information and amend it later. Don't wait long after you get the 1099A/C because you may incur penalties.
2007-12-14 17:02:22 · answer #1 · answered by ? 6 · 0⤊ 0⤋
Contact the lender. They will probably mail the form to the foreclosed address which you don't live in anymore.
If you get only a 1099-A, you have a sale and report it on schedule D (invariably it's a non-deductable loss, but if you don't report it, you'll get mail in a few years from the IRS)...the cancellation of debt income--if any--can come in a later year.
2007-12-14 16:46:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
There is no reason why you should not get your 1099 forms, but if you don't, there is no reason why you can't file your tax return correctly based on your own records of income.
2007-12-14 07:00:10 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Personally I would contact the lender and see if they are going to prepare one. Leave nothing to chance or the whim of the Postal Service.
2007-12-14 09:53:35 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋