joelgilb Posted February 17, 2010 Report Share Posted February 17, 2010 Has anyone seen a mortgage company issue a 1099-A in a previous year and a 2nd one in 2009? Have a client whose mortgage company issued 1099-A's twice for the same foreclosure. One in 2008 and the 2nd in 2009 and for different amounts. Not sure how to handle except to add a disclosure. any thoughts? Joel Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted February 17, 2010 Report Share Posted February 17, 2010 Just guessing, but it could it be for a second? Most properties sold in California over the past 5-10 years were done so with a fist, second, and in some cases a third mortgage. Is there any account number on the doc and are they the same? Deb! Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 18, 2010 Report Share Posted February 18, 2010 Other possibility is that the second was a correction, since you do not report income on a 1099A, it's informative but the income is recognized when the 1099C is issued. Quote Link to comment Share on other sites More sharing options...
jainen Posted February 18, 2010 Report Share Posted February 18, 2010 >>One in 2008 and the 2nd in 2009<< Did the taxpayer report the foreclosure as a sale in 2008? Quote Link to comment Share on other sites More sharing options...
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