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8/20 we lost our $5000 deposit from contract seller will get he sold to another our loan took to long due covid 19 do we make them a 1099 for $5000 no sellers SSI

ramosrealtors — Wed, 02 Sep 2020 22:08:40 GMT

Re: 8/20 we lost our $5000 deposit from contract seller will get he sold to another our loan took to long due covid 19 do we make them a 1099 for $5000 no sellers SSI

xmasbaby0 — Wed, 02 Sep 2020 22:13:37 GMT

Seems like you tried to cram too much into the subject box. You could have added details in the text box below it. Are you saying you tried to purchases a house and lost out to another buyer, but the seller kept your $5000 earnest money deposit? And you want to know if you should issue a 1099 to that seller who kept your deposit? Why do you think you need to do that? 1099's are issued by a business or a financial institution. And not sure why the end of your post says "SSI." Why did you mention SSI? What are you trying to do?

Re: 8/20 we lost our $5000 deposit from contract seller will get he sold to another our loan took to long due covid 19 do we make them a 1099 for $5000 no sellers SSI

rjs — Wed, 02 Sep 2020 22:54:29 GMT

"do we make them a 1099 for $5000 no sellers SSI"

I assume you mean that you do not have the seller's SSN (Social Security Number). You don't need the seller's SSN because, as xmasbaby0 said, you do not issue a 1099 for a lost deposit. There is nothing more that you have to do.

Re: 8/20 we lost our $5000 deposit from contract seller will get he sold to another our loan took to long due covid 19 do we make them a 1099 for $5000 no sellers SSI

Anonymous — Thu, 03 Sep 2020 06:20:00 GMT

sadly you get no deduction for the lost deposit.