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i had a house forclose on me this year. i just got a 1099 from IRS. how does that affect my tax report?

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  • Bobbie
    Lv 7
    8 years ago
    Favorite Answer

    1099-? form NOT from the IRS BUT from the lender mortgage holder that was required to send a copy of this 1099-? to and a copy to the IRS during the 2013 tax filing season that has some information on it that you will have to use to correctly complete your 1040 income tax return during the 2013 tax filing season for the 2012 tax year.

    You may want to seek some face to face assistance for this purpose.

    Check out your state website around the end of January to see if you can find some free face to face assistance with your 2012 income tax return during the 2013 tax filing season for this purpose VITA/TCE or the AARP Tax-Aide program might have some local volunteer sites in your area for this purpose and time in your life.

    Hope that you find the above enclosed information useful. 01/14/2013

  • tro
    Lv 7
    8 years ago

    no IRS did not issue you the 1099, a 1099A might have been issued to you by the financial organization that took possession of your house

    or the mortgage holder issued you a 1099 C for the amount of debt that was forgiven which could be income to you unless you qualify to use form 982

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