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I entered box 1 of COD 1099 in rental income, made the sale price what the property sold for on the closing docs, and took no expense of the sale since bank pai...
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Thanx, and I imagine if a 1099-A or C gets issued it would be reported as rental income if debt is forgiven
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I thought the difference between FMV and amount owed on mort. was added to rents, but that does not explain depreciation recapture.
