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If I have a 1099-A, can I still do my own taxes online?
My husband and I usually do our taxes online, but this year we have a 1099-A. I have read online about it but it's too confusing. I just do not want to have to pay all the extra money to have our taxes done by someone else if we don't have to!
Our outstanding balance is more than our FMV. and it was the only mortgage on the house.
4 Answers
- Anonymous1 decade ago
You need to report the "sale" of the property.
Post these 3 items from the 1099-A and we'll tell the "sales price."
Debt/Balance Outstanding
Are you liable, yes or no
Fair Market Value
Was this the only loan on the property?
- Anonymous4 years ago
specific. you do ought to deliver this way which comprise your taxes, it consists of income. The Payer may well be the "Virginia Employment Commision" in simple terms ascertain you place it precisely because it appears that evidently on the 1099 the the identity may well be decrease than 'STATE identity' I stay in Illinois so ours is somewhat diverse so i'm no longer able to make it easier to be attentive to precisely the place to seek for it
- Anonymous1 decade ago
I do believe turbotax will let you for their free program. But you don't have to file that form, you know that right. If it doesn't benefit you, then don't worry about it. Either way, I hope you do have something to gain from it, sorry for your loss, I know it can be tough.
- Anonymous1 decade ago
There are sites that will do your 1099-A for you but I don't really know how trustworthy they are.