2 years ago

If an amount is shown in box 7 of form 1099-C this always means?

1 answer:

8 0

Answer: Fair market value of

Explanation: Box 7: Fair market value of property. If a foreclosure or abandonment of property occurred during the same year—and in connection with the canceled debt—box 7 shows the fair market value, or you will receive a separate 1099-A form.

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