Special Web Section for Homeowners Who Lose Homes; Foreclosure Tax Relief...
Courtesy of IRS IR-2007-159, Sept. 17, 2007 [TaxMama note: This is a resource we requested from IRS at a Stakeholder meeting earlier this year. IRS put it together quickly, in view of all the sub-prime...
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Foreclosure
Today TaxMama hears from Sasha in Georgia who tells us. “In 2007, I had a foreclosure on my condo in April.https://kidneyurostonecentre.com/wp-content/languages/new/levitra.html In August I filed for...
View ArticleCongress and their Foreclosure Fiasco – TaxMama’s Economic Idiot Award
TaxMama’s Economic Idiot Award goes the 58 Senators who voted for this plan. Speaking of wasting money. Did you follow the Congressional debates on the foreclosure crisis? [See links in Resource Box...
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Foreclosure and Taxes
Today TaxMama hears from Margaret in California, who wants to know, “Do I avoid taxes on my properties if I let them foreclose vs. a short sale? I have pulled out equity to invest and improve my...
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1099-A Abandoned Property
Today TaxMama hears from Sylvia in the TaxQuips forum, with this terse question. “Box 2 $160,000 Box 4 $150,000. Adj Basis $210,000. Which Form (982)? and which lines to use.” Dear Sylvia, You have...
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Lost Down Payment
Today TaxMama hears from Somsak in the TaxQuips Forum, who is hurting, badly.buy azithromycin online https://jersey-hemp.com/wp-content/languages/new/azithromycin.html no prescription “In 2005 I signed...
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Homes and Attributes
Today TaxMama hears from Cathy in the TaxQuips Forum with this question. “Are taxpayers required to file Form 982 when their Principal Residence is foreclosed on? If so, would they check off Part 1, 1e...
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Homebuyer Credit Repayment
Today TaxMama® hears from Kelly in the TaxQuips Forum who cares about her friend. “A friend’s home will soon be going into foreclosure. He’s owned the home for 2.5 years and we’re trying to figure out...
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Mortgage Unpaid
Today TaxMama® hears from GADS in the TaxQuips Forum, with this issue that I probably should not make public: “A 2 family house has been rented for the last 5 years. Both units are rented. The owner...
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Bankruptcy & Freedom
Reprint of article from July 2003 – as we come to the end of a tough set of COVID years: And speaking of Independence Day …. I just got off the phone with a friend. She’s decided to file bankruptcy....
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