My home was foreclosed on in 2015/2016. All three mortgage balances were written off. I do not have any tax documents showing the value of the write off. I have declared

Forum|Forum|7 years ago
June 1, 2019
1 reply
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Declared bankruptcy this year...still have to claim the write offs?

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Best answer by PatriciaV

No. There is nothing you need to do as far as tax reporting goes. If you received Form 1098 for mortgage interest paid, you'll include that under Deductions & Credits. If you did not make payments during the year, you would not receive that form.

You may receive Form 1099-A (Acquisition or Abandonment of Secured Property), which contains information you may need in the future. Keep it with your tax records.

If you receive Form 1099-C in the future, you will report that information on the tax return for that year.

Note that you cannot take a capital loss on your personal residence.

PatriciaVAnswer

Level 15

You may receive Form 1099-A (Acquisition or Abandonment of Secured Property), which contains information you may need in the future. Keep it with your tax records.

If you receive Form 1099-C in the future, you will report that information on the tax return for that year.

Note that you cannot take a capital loss on your personal residence.

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