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Old 02-06-2015, 07:42 PM
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1099-C a year after short sale

Received a 2014 1099-C for a home that was sold at short sale in 2013. Now that this is no longer considered my main home, or my home at all, is it taxable as income? If I had gotten this in the year I should have along with the 1st mortgage 1099-C(2 mortgages were acquired to buy this home), I would not pay tax. I am wondering why they did this other than to "stick it to me". I feel this is unfair since it was considered my main home at time of sale.

I saw somewhere else if box 7(FMV) is bigger than the amount in box 2(amount cancelled) none is taxable, so that confuses me.

I already filed my 2014 taxes, not expecting this form, so must amend and the 1099-C is incorrect (date and FMV are different than that on the 2013 form). No luck in getting lender to change it, or getting in touch with a live person at IRS to assist me with a corrected one.

I also got a 1098 saying I paid $0.01 interest on this loan, which is not possible.



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