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    bambilee13's Avatar
    bambilee13 Posts: 2, Reputation: 1
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    #1

    Feb 19, 2010, 06:54 PM
    I filed Bankruptcy in May 08 due to divorce. I just received a 1099-A for our house.
    I filed bankruptcy in May of 08 due to divorce. The house that my ex-husband and I owned together was part of that backruptcy and was discharged completely. I just received a 1099-A for this house stated a date of abandonment of 11-16-09. This is absurd and I do not know what I need to do with this if anything. Can someone help me?
    DownUnder's Avatar
    DownUnder Posts: 492, Reputation: 24
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    #2

    Feb 19, 2010, 06:56 PM

    Was your bankruptcy a chapter 7 or 13?
    bambilee13's Avatar
    bambilee13 Posts: 2, Reputation: 1
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    #3

    Feb 19, 2010, 07:07 PM

    It was chapter 7.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,753, Reputation: 846
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    #4

    Apr 22, 2010, 09:21 AM
    The Form 1099-A BY ITSELF will have no effect on your 2009 tax return, especially if the Fair Market Value of the house meets or exceeds the amount of the mortgage on the property.

    When (and if) you get a Form 1099-C, then (and only then) will you face some tax consequences associated with the house foreclosure.

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