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  1. #1
    Member Maya26's Avatar
    Join Date
    Jun 2011
    Posts
    10

    House sold at auction...when do I get the 1099?

    My house sold at auction in June 2012. It was recorded in July 2012. I have not received any paperwork past the NOS.

    The company that bought it was a house flipping company. (I know this because my old house is listed for sale again and it is completely updated in the pics). Anyway when can I expect my 1099? I will get an 1099 no matter what correct? I mean even if the bank decides to sue for the 67k that is still left after the house was sold at auction I would still get a 1099 this year for taxes right?

    Owed: 175k
    Sold at auction for: 108k
    BOA shows I owe: 67k

    I am not sure how long the bank has to sue me for the difference, if they are going to sue but either way I should get a 1099 soon, right?

  2. #2
    Senior Member Jeffrey L. Shurtliff's Avatar
    Join Date
    Dec 2010
    Posts
    2,919
    If they pursue a defieciecy there will be no 1099, if not there will be one around the first month of the new year.

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