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Sub: #1 Foreclosure and income taxes
Replied on 11-17-2008, 11:23 AM
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How does a foreclosure affect your income tax filing the next year


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Sub: #2
Replied on 11-17-2008, 10:07 PM
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Source: - "http://billsplan.com/pages/TaxEffectsFC.html"

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Sub: #3 foreclosure and taxes
Replied on 02-07-2009, 05:44 PM
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If your home was foreclosed on and you did not get a short sale or deed in lieu of foreclosure, do you claim the amount of forgive debit on your taxes

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Sub: #4
Replied on 02-07-2009, 10:09 PM
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I didn't get anything saying the debt was forgiven--but we are filing bankruptcy to write itoff this year anyway. I do now know that from now til 2012--the irs is forgiving the income tax onforgiven debt for foreclosures. So I wouldn't haveto pay taxes on forgiven debt anyway.

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Sub: #5
Replied on 02-09-2009, 08:38 AM
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Bankruptcy is an exception to the Inclusion of Discharged debt to income.

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Sub: #6
Replied on 02-13-2009, 07:57 AM
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I sold my home in a short sale last year and I had an FHA loan. My processor told me that I would not get a 1099 given the circumstances of a FHA loan. I guess the debt is just forgiven. In this case, is there any income tax relief at all for this?

Grifangel
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Sub: #7
Replied on 02-06-2010, 02:03 PM
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Hi, I received a 1099-A for my property from my 2nd mortgage, but my home never foreclosed. What should I do with this?




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