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    jeffgeorgia's Avatar
    jeffgeorgia Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 22, 2012, 11:22 AM
    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 ?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 23, 2012, 01:27 PM
    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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