I have a client that in 2021 could not pay her mortgage. She placed an application for RAFT Recovery Action Fund for Tomorrow (RAFT). She's a resident of Massachusetts. She then received a 1099-misc in the amount of $14,400. Is Recovery Action Fund for Tomorrow (RAFT) Program taxable? Should she report the $14,400 as income in a Schedule E?
No, it is not a rental property. It is her house and she requested help with her mortgage. It is the RAFT program..I like to know if this is taxable....
Im not familiar with RAFT, but if some organization gave them money and issued a 1099 for it, then they expect it to be taxable income, unless you can find something that says its excludable.
