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-   -   1099 a FMV not sold price? (https://www.askmehelpdesk.com/showthread.php?t=638136)

  • Feb 22, 2012, 11:22 AM
    jeffgeorgia
    1099 a FMV not sold price?
    Got 1099a box#2 has 109352, box#4 has 94000. House foreclosed and sold on steps for 60000.have tax bill which shows FMV 89000.
    1] should box#2 be 60000 or 89000?
    2] house last refied at 118000 is diff -109352 or 94000 or what?
    3] box#5 is checked
    4] was primary residence 19 years
    5] will I have to pay tax and roughly what ?
  • Feb 23, 2012, 01:27 PM
    AtlantaTaxExpert
    You probably can avoid paying taxrs by filing Form 942.

    Go find a local tax professional to help you with this. This form is NOT for amateurs.

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