Re: 1099 issued for Short Sale and Deed in Lieu?

Posted by steele in minnesota on April 29, 2008 at 05:58:07:

In Reply to: Re: 1099 issued for Short Sale and Deed in Lieu? posted by Kish on April 26, 2008 at 23:06:53:

Here is what the IRS says on it's site:

"The debt must have been used to buy, build or substantially improve the taxpayer's principal residence and must have been secured by that residence. Debt used to refinance qualifying debt is also eligible for the exclusion, but only up to the amount of the old mortgage principal, just before the refinancing."

So it seems you are covered.

Steele


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