Did you receive a 1099 from your mortgage company on a home you surrendered?

This time of year always prompts many calls regarding a 1099 received from client’s mortgage companies after the property has been foreclosed. The reason that clients receive this form is because the lender has acquired the property through foreclosure. ¬†Form 1099-A is used to report to the IRS the acquisition of secured (i.e., mortgaged) property … Continue reading

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