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Jamie
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Jamie asked in Business & FinanceOther - Business & Finance · 1 decade ago

1099 And Tax Question?

I noticed that alot of people are sending out false information about 1099s and the amount owed on foreclosures after it sells for less. If you're unaware, George Bush passed a law on December 20th that was on the front page of almost every paper stating that debt owed on a short sale or a foreclosure and a 1099 will not be owed because of the housing crisis until December 31, 2009. Tell me if I'm wrong, positive answers only please.

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  • Anonymous
    1 decade ago
    Favorite Answer

    As I understand, short sales prior to January 2008 will NOT be covered by this legislation.

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