Upcoming Foreclosures

How long after foreclosure before you receive a 1099?

My house was foreclosed on in October 2009 in Maryland. At the foreclosure sell at the court house there were no bids on the house. I received papers from the court ratifying foreclosure in December 2009. The lender listed the property with a real-estate agent in October and sold the house. The new owners closed on the property January 19, 2010. How long after the foreclosure before I receive a 1099?

Public Comments

1. You won't get it until next year, for your 2010 income tax return.
2. Since the lender has not taken the loss until calendar year 2010, you will get your 1099 near the end of calendar 2010. The lenders process these forms and mail them all at the same time. Loss information is computer stored until it is time to generate and mail the 1099's.
3. before the next tax season