Countrywide Class Action

[MaryAnne]

One of my clients has already received a Form1099-Misc for 2010 for a check received in a class action suit against Countrywide Mortgage Co. According to the TaxBook pg. 3-21 Class action and other settlements for consumer good or services (are not taxable) if amounts were not deducted in a earlier year. Countrywide is not cooperative in responding to inquires. Has anyone dealt with a similar transaction? How do I decide if the amount received in the class action was for something previously deducted like (mortgage intererest and property taxes) or not?

[ChEAr$]

One of my clients has already received a Form1099-Misc for 2010 for a check received in a class action suit against Countrywide Mortgage Co. According to the TaxBook pg. 3-21 Class action and other settlements for consumer good or services (are not taxable) if amounts were not deducted in a earlier year. Countrywide is not cooperative in responding to inquires. Has anyone dealt with a similar transaction? How do I decide if the amount received in the class action was for something previously deducted like (mortgage intererest and property taxes) or not?

Here's where Google comes into play. Do a search for it and I think you'll be
rewarded handsomely with more information than you need.