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1099 Misc Box 3 for cash for keys

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    #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?
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    #2
    Line 21

    Sounds like line 21 to me.
    Evan Appelman, EA

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      #3
      I had a client with one of those yesterday

      and put it on line 21.

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