Welcome Guest. Register Now!  



 
 
LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 02-24-2012, 02:51 PM
Junior Member
 
Join Date: Feb 2012
Posts: 1
1099 Misc for Short sale incentive

I just received a 1099 MISC form from Chase for a shortsale incentive they gave me at the closing (10,000). Is this taxable? My short sale qualified under the Mortgage relief act and I do not owe taxes on the difference, yet it appears I will be owing on the incentive (relocation incentive). Is there a way to report it so that taxes are not owed?

Thank you for your help



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
 



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
received 1099-misc for sale of used car postgenerate Income 5 02-02-2011 01:29 AM
What is the meant by Selling Short Against the Box (Constructive Sale)? TaxGuru Capital Gains 0 01-21-2011 01:34 PM
Short Sale Lender issues a borrower a 1099 MICHAELRJD Rental Real-Estate 1 11-11-2010 03:27 AM
Short Sale/1099-S mizhall Rental Real-Estate 0 01-26-2010 09:45 PM
Capital Gains on a Short Sale? 99980000 Capital Gains 0 04-08-2009 10:20 AM

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
 
 
 

» Recent Tax Q&A
No Threads to Display.