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Re: Debt Forgiveness when a credit is used to pay a mortgage


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Posted by learned my lesson and still paying (69.89.164.185) on June 16, 2004 at 21:35:24:

In Reply to: Re: Debt Forgiveness when a credit is used to pay a mortgage posted by Why Chat on June 16, 2004 at 21:28:39:

my tax person is looking into this and asked me to help search the web she still swears it was a gray area and it was her understanding I would not need to delcare the 1099...they were credit card settlements from citbank and capital one, for the amount forgiven...we used the money to stay afloat for a year because of a huge change in our financial situation 2/3 of our income was down-sized but not our mortgage ...so we used the money from the credit card to pay the mortgage...my tax lady found something she sent to the irs but i do not expect they will respond..



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