Unfortunately, have no $ for professional tax services this year. I am using Turbo Tax.
My wife and I Each received 2 1099-As from our former mortgage (version 1 &.then "corrected" version 2) House foreclosed on in CA and surrenderin bk. Turbo tax says don't need to address the 1099-A. True? I am just not sure what to do with this or how and when to fill out the form that says I was bankrupt?
Also, FIA card services sent me a 1099-C for cancellation of debt. The debt was taken out under my small sole prop biz that also went under in the BK. I received a discharge, but they sent me this 1099-C for $26k. What do I do with this? On the letter that says its a 1099C is says:
"Business Bankruptcy Discharged Debt
Borrower was personally liable for repayment of debt.
Debt discharged in BK"