If you received a 1099-C, cancellation of debt, you need to know your options.
you dont report it
Not unless you claimed the damage as a loss on your tax return. only if the vehicle is used for business
A tax return is a report of taxable income, taxes paid, deductions and credits. Law requires that a person with taxable income file a tax return with the IRS.
You do not have to report any income tax refund on any tax forms, it is not income.
Can someone collect my income tax return for a judgment against me
you dont report it
in getting my mrotgage caught up i had to pay a fee of 1400 dollars for forclosure fees, can i write them off on my tax return
Not in the U.S.
A foreclosure will typically remain on your credit report for seven years.
Not unless you claimed the damage as a loss on your tax return. only if the vehicle is used for business
The foreclosure will be on your credit report indefinitely.
You should speak to the lender about giving a "deed in lieu of foreclosure". It does less damage to your credit record than a foreclosure. You should ask about the bank's policy if there is a deficiency between the present value of the property and the amount of the loan. You should also speak to a tax advisor to determine if there will be tax consequences when you file your tax return for the year.
A foreclosure will typically remain on your credit report for seven years.
If you want to file a tax return YES you can. SSI (supplement security income) would not be taxable income that you would report on your 1040 income tax return. If you do NOT have any taxable worldwide income that you are required to report on your federal 1040 income tax return it would NOT benefit you to file a federal income tax return and you would NOT meet any of the MUST FILE A INCOME TAX RETURN requirement's. If you want to file a tax return YES you can.
A tax return is a report of taxable income, taxes paid, deductions and credits. Law requires that a person with taxable income file a tax return with the IRS.
You do not have to report any income tax refund on any tax forms, it is not income.
no