1009c

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  • jwhelan02
    Junior Member
    • Feb 2019
    • 4

    #1

    1009c

    Rental property foreclosure on received 1099c debt around 48000 and fmv 16000. Is the proper way to handle this is the use 16000 as the sale price and cancellation of debt the difference between 48000-16000? Help! Thank you.
  • spanel
    Senior Member
    • Oct 2008
    • 845

    #2
    Yes. I would list the debt income on the Sch E.

    Chris

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