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    Jsunseri2's Avatar
    Jsunseri2 Posts: 1, Reputation: 1
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    #1

    Feb 28, 2010, 07:03 PM
    1099a
    I received a 1099-a form after my chapter 7 bankruptcy. In box 2 is $250,604.36 and in box 4 is $224, 916.54 and in Box 5 ix checked yes. Do I have taxable income?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Mar 1, 2010, 10:56 AM

    No - even though there was "loan forgivenes" in the amount of about $25.7K (box 2 minus box 4), because this was associated with bankruptcy it is not taxable. By the way, if it was taxable the bank would send you a 1099-C form, not a 1099-A.
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