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If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable.

Expect the bank to issue you a 1099 if your home has been forclosed on or short saled. Expect a 1099 if you filed for bankruptcy. A 1099 shows the dept that was either forgiven or canceled. Make sure you acknowledge this on your tax return in the year

Marion County Florida-Ocala Florida Foreclosure Report

You can go to my web site and check out my foreclosure report for Marion County Florida and all of Florida. Find out how many foreclosures are on the market right now. Foreclosure Report Ocala Florida Representing Buyer's Dawn Rupersburg Coral Shores