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Old 02-11-2014, 03:11 PM
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Reporting foreclosure settlement as capital gain

I received a $1484 settlement check from the National Mortgage Settlement in 2013. They are not issuing a 1099-Misc as did the other settlement agent. This settlement was for a house that was formerly our primary residence (2003-2004) but then used as rental property 2005-2010, foreclosed 11/2/2010.

We claimed a $1114 capital gain on the disposition of the property when it foreclosed 11/2/2010.

How do I report this $1484 on my 2013 return? From what I can understand on the IRS website, it is an additional capital gain since we did not live in the home as our primary residence during the 5 years before foreclosure.


Last edited by cc15 : 02-11-2014 at 05:19 PM.

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