Discussion:1099-a Investment Property
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| Revision as of 21:56, 18 February 2008 Taxguy07 (Talk | contribs) (Additional infor) ← Previous diff |
Revision as of 22:20, 2 April 2009 Www.cpa1.biz (Talk | contribs) (I am touching ba) Next diff → |
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| {{ForumReplyPost|UserID=Taxguy07|Date=18 February 2008|Text=Additional information: Balance $51K and FMV 49K. the borrower was personally liable (check mark yes). }} | {{ForumReplyPost|UserID=Taxguy07|Date=18 February 2008|Text=Additional information: Balance $51K and FMV 49K. the borrower was personally liable (check mark yes). }} | ||
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| + | {{ForumReplyPost|UserID=Www.cpa1.biz|Date=2 April 2009|Text=I am touching base on this subject again. If a person owns a rental property and later gets a 1099-A. Do I show a sale price of 0 and the total adjusted basis as a 1231 loss? Or do I use the FMV on the 1099-A and have that as the sales price. | ||
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| + | Please keep me informed. | ||
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| + | This is for a rental property.}} | ||
Revision as of 22:20, 2 April 2009
Discussion Forum Index --> Tax Questions --> 1099-a Investment Property
| 18 February 2008 | |
| My client got 1099-A for his investment property (foreclosure)
The property has been depreciated over two years. Do I have to file specific forms? | |
| 18 February 2008 | |
| Additional information: Balance $51K and FMV 49K. the borrower was personally liable (check mark yes). | |
Www.cpa1.biz (talk|edits) said: | 2 April 2009 |
| I am touching base on this subject again. If a person owns a rental property and later gets a 1099-A. Do I show a sale price of 0 and the total adjusted basis as a 1231 loss? Or do I use the FMV on the 1099-A and have that as the sales price.
Please keep me informed. This is for a rental property. | |
