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sold rental under short sale, received 1099C; using 982 for insolvency
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Income reported on a 1099 should be reported by you on your personal income tax returns unless the 1099 was issued to a company you own which is either a corporation or a partnership for income tax purposes (not a sole proprietorship). In that case, the income should be reported on the company's income tax returns.
Answered on Sep 10th, 2012 at 8:10 AM