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1099 Misc from Independent Foreclosure Review

Posted on | February 6, 2014 | 1 Comment

It is that time of year again!  Tax time!  I view it as filling out a yearly self-evaluation.  You get to see where you did well and where you need to improve for the next year.

This year is going to be particularly painful for a lot of folks that were foreclosed on and filed a claim with the Independent Foreclosure Review program.  I received a small payment from the fund but I didn’t have the option to have taxes removed from the payout.  I’ve just received 1099 Misc from the Independent Foreclosure Review fund which means I have to pay taxes on the compensation I received.  You may not. 

 You can visit this site to find out.  You’ll need to select your servicer to see how the payment you received will be treated for tax purposes.  For example, if your loan servicer was Wells Fargo click here to view the tax implications.

I was really hoping for refund this year but now it seems unlikely.  This tax season is going to suck.



One Response to “1099 Misc from Independent Foreclosure Review”

  1. gary vanwert
    December 15th, 2014 @ 11:45 am

    would like to get a copy of the 1099-misc and to know what it was for It is for 2013 tax year
    thank you

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