Posts tagged as:

1099-C

Ask the taxgirl: Cancellation of “Debt”

31 May 2009

Taxpayer asks: Two years ago, I gave my son a considerable amount of money so that he could finish graduate school without having to take out any student loans. Last year, he announced that he was “taking a break” from school. Since he was no longer going to school, I asked him to give the [...]

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Ask the taxgirl: Mortgage Forgiveness

8 March 2009

Taxpayer asks: I have a 1099-c from a short sale on my house, I was hoping to be granted an exemption because of the Mortgage Forgiveness act of 2007, my amount in box 2 is 54809 and the amount in box 7 is 0.00 not sure what all this means. Taxgirl says: A form 1099-C [...]

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Ask the taxgirl: 1099-C income

11 February 2009

Taxpayer asks: Hello, Taxgirl Hope you are doing well! I have a Question I got a 1099-c form from wells fargo for about 5000 will this be alot of added taxes for me and my wife we made about 71000 last year we have 1- 4 year old. I am scared to file my taxes! [...]

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