11 March 2011
I remember the first phone call that I received about insolvency exceptions. A taxpayer called to ask me how to protect his daughter who had just been foreclosed upon – she was told to expect a tax bill as a result of the foreclosure. I remember thinking, “Wow, foreclosure? But how?” These were not folks [...]
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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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