What is the name of your state (only U.S. law)? Florida
Can anyone help with this question?
I received two 1099-A statements from the same lender. This is for a foreclosed home I lost in 2007. The lender had purchased the home in the foreclosure sale then sent me a 1099-A for tax year 2007. The 1099-A said;
Box 2 $230,000 Balance Outstanding
Box 4 $239,000 Fair Market value of property
Box 5 NO - Buyer was not liable for repayment of the debt
Now I just received another 1099-A this time for tax year 2008 from the same lender that says;
Box 2 $230,000 Balance Outstanding
Box 4 $216,000 Fair Market value of property
Box 5 YES - Buyer is liable for repayment of the debt
Is this right? Can they keep sending me 1099-A's year after year?
Can anyone help with this question?
I received two 1099-A statements from the same lender. This is for a foreclosed home I lost in 2007. The lender had purchased the home in the foreclosure sale then sent me a 1099-A for tax year 2007. The 1099-A said;
Box 2 $230,000 Balance Outstanding
Box 4 $239,000 Fair Market value of property
Box 5 NO - Buyer was not liable for repayment of the debt
Now I just received another 1099-A this time for tax year 2008 from the same lender that says;
Box 2 $230,000 Balance Outstanding
Box 4 $216,000 Fair Market value of property
Box 5 YES - Buyer is liable for repayment of the debt
Is this right? Can they keep sending me 1099-A's year after year?