|
|
| *Loan,banking and credit>>>bank loan |
What is a 1099-A document? If the property was taken by the bank was worth 150k but the loan was only 125k? |
do I have a loss to report on the tax return? How does this work? Does it go on my schedule D? if the value the bank sells the foreclosed house at is more than you owe on it then you have to pay capital gains on that amount A 1099-A states that you have abandoned property held to secure a loan. Any gain or loss is based on your cost for the property vs what the bank sold it for. If the property was held for personal use, no loss is deductible. http://www.irs.gov/pub/irs-pdf/f1099a.pd... |
| Tags |
| bank of scotland bank north anz bank alliance bank bank loan financial services online banking bank account bank checks bank holidays |
SiteMap--Copyright/IP Policy--Contact Webmaster For personal non-commercial use only. |