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Foreclousre...

Last March we lost our home to foreclousre. Are we suppose to be receiving any paperwork for tax purposes?

Answer Question
 
Anonymous

Asked by Anonymous at 12:51 PM on Feb. 2, 2009 in Money & Work

Answers (2)
  • I think only if you paid interest in. Also are they writing off the debt? Due to the housing market there has been a several tax bills passed including one that I believe lets you not have to claim the debt forgiveness as income. Check with a good CPA because you don't want to be wrong or get hit by IRS pentalities down the road.
    partiesbyjan

    Answer by partiesbyjan at 1:28 PM on Feb. 2, 2009

  • Go to Quickfinder.com where you can create a username and password and ask this question. You can get more advise about how to handle this for your return. You may get several answers.
    lifeasinoit

    Answer by lifeasinoit at 2:43 PM on Feb. 2, 2009

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