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What happens in case of insolvency of the association?
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I understand that if a member insurer of the Insurance Guarantee Association is found to be insolvent, the Guarantee Association Act enables the guarantee association to provide protection (up to the limits spelled out in the Act) to policyholder. Then what happens when "the Association" itself...
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I need information on how to prove insolvency using form 982. Do I include the amount of the insovency as income on my 1040 or do I not include the income and attach the 982. What detail do I attach to 982 in any. {moved from Forum Help-<>}
1099C and Insolvency
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I am going to be getting a 1099c on a home I could not afford the mortgage on in another state from where I live now. I had to move when my job moved and I could not afford both houses. I tried paying for both for about three years while having the home on the market to sell, but it wouldn't sell.... View more questions Search
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