1099 Misc Box 3 for cash for keys

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  • dee
    Junior Member
    • Feb 2013
    • 1
    #1

    1099 Misc Box 3 for cash for keys

    In lieu of bank doing a foreclosure they stated that if the house is left in move in ready they would give clients 3000 for turning in the keys. Where does this go and is it taxabler?
    Tags: None
    • appelman
      Senior Member
      • Jan 2010
      • 1195
      #2
      Line 21

      Sounds like line 21 to me.
      Evan Appelman, EA

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        • bgiez
          Senior Member
          • Apr 2006
          • 175
          #3
          I had a client with one of those yesterday

          and put it on line 21.

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