In Which Year Will I Have to Deal w/ The Taxes?
Date: Fri, 01/21/2011 - 09:20
Since the last payment will be made in 2011, the taxable event w
Since the last payment will be made in 2011, the taxable event would be for 2011. Bank of America will send you a form early in 2012. However, if you can prove insolvency at the time you might not have to pay any taxes on the forgiven portion. Go to www.irs.gov and check requirements.