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Old 09-14-2005, 03:11 PM
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Capital Gains on Foreclosed Property

What is the name of your state? California

In 1999, I lost my home through foreclosure (repossession) and the Mortgage comapny sold the property. They, in turn, sent me a 1099 for the taxes on the property which I dutifully filed. My question: Am I responsible for the taxes on the property that I did not own?
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Old 09-15-2005, 09:42 AM
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Quote:
Originally Posted by pmfoster
What is the name of your state? California

In 1999, I lost my home through foreclosure (repossession) and the Mortgage comapny sold the property. They, in turn, sent me a 1099 for the taxes on the property which I dutifully filed. My question: Am I responsible for the taxes on the property that I did not own?
You should ask this on the tax board if you haven't already. This is a tax question, not a mortgage question.
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