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We received a form 1099-c for Cancellation of Debt and my question is if this debt forgiveness was for a home improvement. I thought that I'd read somewhere that there was a provision having to do with the value of your home at the time that the debt was forgiven that may allow you to not have to report this on your taxes but that it required a certain form be filled out?

1099c
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Ali Khan
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This form can be very complicated because of the required ordering rules when reducing attributes. 

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Ali
561-241-9991
Leave a Comment 392 weeks ago

 

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