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Old 08-27-2015, 07:28 PM
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Acquisition or Abandonment of Secured Property

I received a 1099-a "Acquisition or Abandonment of Secured Property after defaulting on our mortgage. Box 3 Balance of principal outstanding shows $181.733. Box 4 Fair market value of peroperty shows 207,979.

What am I to do with this. Does this help me in any way at all to lower my taxes?

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