| Mortgage Forclosure The forum for everything related to Mortgage Forclosure |
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03-07-2009, 08:11 PM
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Do I get to deduct mortgage interest on a...
...foreclosure? If one forecloses on a home, I understand I would be either issued a 1099-A or the debt could forgiven, but not both. On the 1099-A is it just Fed taxes you pay if you don't qualify for the Mortgage Debt Relief Act or does the State get a piece also. I do not know of anybody having to pay on these 1099-A situations.
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