I received a 1099A. Box 4 is greater than Box 2. Box 5 reads "no" borrower personally liable for repayment of debt. The sheriff's sale was September 4, still in my redemption period per the state of Minnesota. The redemption period on my mortgage is up March 4. What am I to do with this 1099A when filing taxes this year? Am I liable when I am still technically in the redemption period and the foreclosure is not finalized? What should be my next step? I have been unemployed since the summer.
You should seek the guidance of a tax professional who can be knowledgeable of all the dates and details. This is not a matter where assumptions can be made.
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You should seek the guidance of a tax professional who can be knowledgeable of all the dates and details. This is not a matter where assumptions can be made.
