ILLMAS Posted March 5, 2015 Report Posted March 5, 2015 Joint TP sold their home for $200K, owed bank $330K and received a 1099-C for $130K, can they claim the reduction of tax attributes (Form 982) if they are not in bankruptcy or insolvent? Thanks MAS Quote
Jack from Ohio Posted March 5, 2015 Report Posted March 5, 2015 Joint TP sold their home for $200K, owed bank $330K and received a 1099-C for $130K, can they claim the reduction of tax attributes (Form 982) if they are not in bankruptcy or insolvent? Thanks MAS If the home was their primary residence, yes. 1 Quote
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