Ms
Date: Fri, 05/11/2012 - 09:48
I received a letter from the IRS saying a 1099-C form had been turned in on my 2010 taxes. I had a foreclosue in 2001. the 1099-c that was isued says sale date of 12/31/2010. Can the bank date it like this? Can they go back and do this 10 years later? I also believ the house was sold for what was owed. Can i require a settlement statement from them on these charges? What if they can not provide the documentation for this claim?
1. You need to find every document related to the foreclosure. C
1. You need to find every document related to the foreclosure. County records will have a record of your foreclosure and you can establish the right date of foreclosure and dispute the reported debt with the lender.
2. If you received a 1099c, it means that a portion of your debt was forgiven. Doesn't matter if you believe that the property "was sold for what was owed"
3. The lender is not legally liable to furnish you with documents pertaining to the foreclosed property auction.
