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WASHINGTON – Feb. 3, 2012 – If a bank writes off debt in a short sale, it’s a “taxable event,” and the lender tells the Internal Revenue Service about the deal by.
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The Tax Rate When Filing Form 1099C. Form 1099C is an income information form that a lender will send both you and the IRS if it cancels or forgives a debt that you owe. The.
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All you need to know for filing income tax for the year 2011, which is needed to be filed on or before April 17, 2012. Contains links to relevant IRS notices and web pages for.
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