I walked away from a co-op 5'years ago. I have not paid the mortgage or maintenance fees but the bank has( Wells Fargo has paid the mortgage and the maintenance fees for me). I do not live there and the co-op is not in foreclosure yet. My accountant advises me to keep the co-op address on my tax return (even though I don't live there) so when there is debt forgiveness it's seen as my primary residence. However this tax year I was a victim of tax fraud so having the co-op address on my tax return is causing a problem. My Question is - is it worth keeping the old address or would it be ok to update the IRS with my current address.
If you do not live there it is not your primary residence. The tax issues need to be worked out with your accountant, but there is something unusual about a co-op taking no action in five years if you are not paying anything or doing anything.
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