She owed an $89,000 balloon note and now the home is only worth around $60,000 due to the extensive damage she caused. At this point the home is not habitable. Wish someone could help! IRS says I have to be a business and H&R Block has no clue aft...
If, by chance, you mean a 1099-C for the cancellation of debt, there are specific IRS rules that apply, and legislation passed during the housing crisis bears on those rules. See, for example: http://www.irs.gov/Individuals/The-Mortgage-Forgiveness-Debt-Relief-Act-and-Debt-Cancellation-
I agree that you need a qualified CPA (not H&R Block or TurboTax) to assist you.See question
My deceased sister hand wrote a will on a Thursday, attempted suicide by overdose on Friday, and committed suicide using a handgun on that Saturday (all days are consecutive). In her handwritten will she left her daughter (my biological niece) wh...
A handwritten will is valid in Arizona, so long as the "signature and material provisions" are in the handwriting of the testator/decedent. ARS 14-2503.
Separately, a testamentary nomination of a guardian for a minor child is effective in Arizona, as well. ARS 14-5202. If the step-father follows the procedures, then he will be granted a guardianship over your niece, absent objection. This does not, however, preclude you (or any other interested family member or person from objecting to the appointment, and providing the court with evidence that you feel the step-father is an inappropriate choice. However, the courts will give great deference to the choice of the deceased mother, unless you have evidence that the will that nominates the step-father was prepared at a time the mother did not have the requisite mental capacity to make an proper choice (intoxicated, on drugs, or suffering from mental disease, for example).See question