Pacun Posted February 14, 2008 Report Posted February 14, 2008 Client got 1099-A with FMV $400K and debt $425. How do I enter this information on ATX for a client if client doesn't have to pay any taxes, because of insolvency. How do I enter this information on ATX for a client who HAS to pay? Quote
LindaB Posted February 14, 2008 Report Posted February 14, 2008 Client got 1099-A with FMV $400K and debt $425. How do I enter this information on ATX for a client if client doesn't have to pay any taxes, because of insolvency. How do I enter this information on ATX for a client who HAS to pay? This might be helpful for you: http://www.irs.gov/irs/article/0,,id=179073,00.html Also pub. 544, Sales and Other Dispositions of Assets. Quote
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