Discussion:1099-A tax form
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Discussion Forum Index --> Basic Tax Questions --> 1099-A tax form
Discussion Forum Index --> Tax Questions --> 1099-A tax form
| 4 November 2007 | |
| When you get a 1099A (no debt cancelled) how do you handle it on your 1040? | |
| 4 November 2007 | |
| If the debt is recourse, then it is a sale to the extent of the fair market value of the property, or the balance on the debt, whichever is smaller. If the debt is nonrecourse, then it is a sale for the balance on the debt. | |
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