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@Zigner would be happy to furnish anything and all info needed. If there is a "sticky", that you could refer me to, and or, ask me the info needed, I would be happy to furnish the info needed for forum members to give me an educated and informed reply. So ask away or point me in some sort of...
@Zigner they didn't forgive the $10K I still owed. They "forgave $50K" but should've been $10K. Thats the problem I'm having. It adds approx $7K in taxes due on my part.
This is for tax year 2018, I have yet to receive a Form 1099-C.
I know that Zillow doesn't mean a thing other then possibly, if that, trending info based upon comps.
With that said, the house was subsequently sold by the mortgage co for $40K+ more then what the mortgage co bought it back for...
What is the name of your state? Indiana
My question is regarding 2018 taxes which I have not yet filed.
2018 Tax Year Form 1099-A states that balance of principal is $126K and fair market value is $74K. Mortgage lender bought the house. The house was sold 3.5 months later by lender for $116K...
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