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

    Jan 31, 2008, 02:43 PM
    Will I get a 1099A, 1099C or neither?
    In 2007, I voluntarily surrendered a mobile home back to my lender. They sold the mobile home and have sent me a letter stating the amount that I am still liable for. So far all I have received is a 1098 for the interest paid on the account in 2007. My question is should I be expecting one of the 1099 tax forms from them and if I do get one, what do I do with it? My understanding is that this Lender does not cancel or forgive the debt remaining after the sale. When I called the Lender, they said they couldn't tell me if I was getting one or not. I've seen several sites talking about these 1099 forms but have no idea if I was suppose to get one or where I would report it on my tax return if I do.

    Any information would be greatly appreciated.:confused:
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 1, 2008, 11:31 PM
    The issuance of Form 1099-C is a discretionary decision by the lender. You just need to wait.
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