Thursday, February 18, 2016

No 1099-C for short sale of home issued by bank. How to input information?


I did a short sale in IL in 2014. Wells Fargo did not issue a 1099-C. I know that the loss would have been forgiven because I qualify for the Mortgage Forgiveness. Also the bank issued a statement at closing that they would not be pursuing me for the forgiven balance. Can I file my taxes without entering any of the 1099-C information since it won't have any effect on my income? Also, where on the closing papers would I find the information that would correspond to that of the 10---C if it had been issued?

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