irs and foreclosure
Our house was foreclosed on in Sept 06. I got a 1099-A from the mtg co. My mtg bal was 64300., Fair mkt value was 77000. I am confused as to what the amt if any I pay the IRS. I do not know what it sold for. We did not even know it was for a foreclosure auction. Found out the hard way.
Thanks
Re: irs and foreclosure
This information is not only available to you, you should go get it to protect your own rights. A good real estate and tax attorney can locate the information for you and help you work through it...the easy way.
