you said "a debt includes any any indebtedness for which you are liable subject which you hold property" then later you contradict and say it applies mostly to the 2010 home loss epidemic. A 1099 C is only valid IF the debt INCURRED property. A home foreclosure is a loss to the debtor, same thing with a repo. A debtor can actually file a 1099C to the lender after the short sale if they wanted to. Medical also wouldn't qualify under IRS definition of "income" Just to clear that up in the video.
you said "a debt includes any any indebtedness for which you are liable subject which you hold property" then later you contradict and say it applies mostly to the 2010 home loss epidemic. A 1099 C is only valid IF the debt INCURRED property. A home foreclosure is a loss to the debtor, same thing with a repo. A debtor can actually file a 1099C to the lender after the short sale if they wanted to. Medical also wouldn't qualify under IRS definition of "income" Just to clear that up in the video.
debtpuncher 5 days ago
turn your volume up to record
lobo63mt 2 months ago
tool
flex2000i 2 months ago
Comment removed
beachgirl7251 9 months ago