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View Full Version : 1099-a what's my liability?


TAZ091992
Feb 2, 2011, 07:09 PM
I Received A 1099-A. BOX 2 HAS 250,521.00 AND BOX 4 HAS 19,500.00, BOX 5 IS MARKED "YES". HOW DO I CALCULATE MY TAX LIABILITY?

AtlantaTaxExpert
Feb 11, 2011, 11:35 PM
First, you may have NO tax liability unless and until you get a Form 1099-C.

However, you should go and get professional help on this issue, because you may be able to waive any taxes if you meet certain criteria.