View Full Version : 1099a for rental property
Noory1043
Apr 14, 2012, 10:54 PM
I received 1099a for rental property both box 2&4 are for 456k and the house was bought for 405 k with accumulated depreciation of 54k. Also box 5 was checked. How can I report this one . Please note that the actual FMV in the marked is 160k thanks
AtlantaTaxExpert
Apr 23, 2012, 11:36 AM
Have you gotten a Form 1099-C?
Are you considered insolvent?
Noory1043
Apr 23, 2012, 09:59 PM
Hello
No I did not receive the 1099 c
And what do you mean by insolvent? Ihave another mortgage and do not have any saving. Is this help.
Thanks,
Sam