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Get IRS Instruction 1099-A & 1099-C 2014

If a first trust holder forecloses on a building, and the second trust holder knows or has reason to know of such foreclosure, the second trust Cat. No. 27991U Box 2. Balance of Principal Outstanding holder must file Form 1099-A for the second trust even though no part of the second trust was satisfied by the proceeds of the foreclosure sale. Enter the balance of the debt outstanding at the time the interest in the property was acquired or on the date you first knew or had reason to know th.

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