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

    Jan 24, 2009, 04:15 AM
    1099 with bankruptcy?
    If if I file bankruptcy and I include my home loans will I still have to pay capital gain taxes?
    1099a & 1099c
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
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    #2

    Jan 24, 2009, 01:21 PM

    Welcome to AMHD. If you file bankruptcy, you must include all property, including value, debts, and income. You must disclose all income for the last three years (in the U.S.).
    MMMunson's Avatar
    MMMunson Posts: 2, Reputation: 1
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    #3

    Jan 24, 2009, 09:09 PM
    I filed chapter 7 in sep the thing that is scaring me is my original loan amount was 170,000 after bad refiancing the ending price was 390,000. Am I going to have to answer for where the funds went and/or be responsible for taxes on the equity pulled? Thank You For Helping Me
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