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    crs76's Avatar
    crs76 Posts: 1, Reputation: 1
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    #1

    Feb 26, 2009, 09:30 AM
    How to file 1099-A
    I filed chapter 13 in 2007 and we moved out of our home. Our sale date on our home was Jan 8 2008. We had already filed our 2008 taxes and just received a 1099A for our home. Box 4 has approx 133K and box 2 has approx 120K. I have read and re-read publications and I don't know what to do. We did not receive a 1099C. I don't know how to amend our 1040. I don't know if I have to do a schedule D or what!
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    Feb 26, 2009, 09:50 AM

    You can relax Since Box 2 is less than Box 4, the outstanding mortgage balance when you moved out was less than the fair market value of the home. This means the mortagge company did not have to forgive any of your loan. Therefore there is no additional income attributable to you. This 1099-A is informational only - you will not receive a 1099-C, and you do not need to amend your taxes.
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