Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-03-2009, 01:54 PM
Junior Member
 
Join Date: Mar 2009
Posts: 1
Offset 1099-MISC?

Hello,

I received a 1099-Misc from CARFAX in the amount of $5500. I received this money because CARFAX failed to report a major accident on a used car I purchased. If I had known this prior to me purchasing the car, I may not have purchased the car.

I have spent roughly $3000 in repairs to the car, possibly due to the accident. And the brand that exists on the vehicle decreases the value of the vehicle. Can I offset the $5500 on my 1040 line 21? If so, is this something you have to do in writing (vs. electronically)?

Thanks,
bvech



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
1099-misc jmecooper Income 1 02-12-2009 06:20 PM
screwed by 1099-MISC fause1sr Income 0 02-03-2009 11:45 AM
1099 misc? lehman09 Income 1 01-30-2009 12:16 PM
1099-Misc Income and IRA sirscott IRA/Sep 2 03-02-2008 02:35 AM
1099-misc Jaduexclens Income 1 02-22-2008 07:23 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning