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If I received a 1099-A, I should fill out the 982 Part I 1b if I am insolved with more lialilities than assets, do I have to send another form as schedule D

anarico71
Level 1
 
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TaxMonkey
Level 8

Form 982 has nothing to do with 1099-A.


A foreclosure or abandonment is a sale.  It is not cancellation of debt.  Often the two are related, but not always.

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2 Comments 2
TaxMonkey
Level 8

Form 982 has nothing to do with 1099-A.


A foreclosure or abandonment is a sale.  It is not cancellation of debt.  Often the two are related, but not always.

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George4Tacks
Level 15

Start here https://accountants-community.intuit.com/articles/1861135-reporting-form-1099-a-on-an-individual-ret... there are other links that might help.


Answers are easy. Questions are hard!
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