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    Noory1043's Avatar
    Noory1043 Posts: 2, Reputation: 1
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    #1

    Apr 14, 2012, 10:54 PM
    1099a for rental property
    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 23, 2012, 11:36 AM
    Have you gotten a Form 1099-C?

    Are you considered insolvent?
    Noory1043's Avatar
    Noory1043 Posts: 2, Reputation: 1
    New Member
    		  
    #3

    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
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