1099MISC for PMI payments

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  • Rodmathies
    Junior Member
    • Mar 2010
    • 1

    #1

    1099MISC for PMI payments

    I have a client who received a 1099-MISC with Other Income for mortgage payments made on his behalf by a mortgage insurance company. The 1099 makes it look like taxable income, but I have been unable to confirm this in TTB or IRS Pubs. His home is in foreclosure, so it seems like this should be part of the non-taxable cancelled debt.
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