1099C Is for Cancellation of Debt Income Only, Not for Interest Rate and Payment Reduction

1099c Cancellation Debt Income Only Interest - Politics, Business, Civil, History - Posted: 13th Sep, 2010 - 4:22am

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Post Date: 13th Sep, 2010 - 4:22am / Post ID: #

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1099C Is for Cancellation of Debt Income Only, Not for Interest Rate and Payment Reduction

1099C Is for Cancellation of Debt Income Only, Not for Interest Rate and Payment Reduction
Real Estate News From CoStar Group

A IRS form 1099C will be issued to any homeowner who has a Cancellation of debt, namely a reduction in their principal balance. Whether you will have to pay taxes on that Income is subject to many factors.
Source: Real-Estate:Foreclosures Articles from EzineArticles.com

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