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Showing content with the highest reputation on 06/25/2024 in Posts
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The 1099-C is not always issued in the same year. There's a worksheet in Pub 4681, be sure and use the one for recourse loans.2 points
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Agree with the others above. It's reported as a sale of home with foreclosure and possible component that is ordinary income for the amount of debt forgiven. If memory serves, it is in pub 523 for the home sale with foreclosure and the worksheet in pub 4681 that Lee referenced above.1 point
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See Pub 4681 - page 141 point
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Sale of Home.1 point
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Form 9821 point
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This was my line of thinking as well. However, I don't know how that fits into his estate plans, as he is in his 70s. Lots of possibilities... Tom Longview, TX1 point
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If your friend just rents it to the square dance club, the situation would be much less complex. Who knows 5 or 10 years from now how relationships might change, In addition, your friend could rent the space to anyone. Why make it so complicated?1 point
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I placed the order in May and paid the price. I know that I want the program, I will use the program and there is no room for negotiation. I got it over with and moved on. I did look at other options in the meantime, but, honestly, I really like the Max program and it has treated me well. Too many other things to worry about.1 point
