Paying Taxes on a deed in lieu In September of 2015 I did a deed in lieu with my lender. Today I recieved a 1099A. in box 2 -balance of principal outstanding it says 66,533.00. In box 5 fair market value of property it says 109,900.00. Am I responsible to pay taxes on the 66, 533.08? The house was in foreclosure during the 2014 year, and I know there was a debt relief act, but I am not sure if it applies. |