TaxGuyBill
Level 15
08-24-2023
07:22 PM
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@BeckerMgt wrote:
How to enter 1099-A Cencellation of Debt for a Rental Prperty Mortgage ...
When I enter the 1099-A on it's own with the estimated value of the property on it Proseries creates a Canceled Debt worksheet that computes the gain/loss.
I'm confused. A 1099-A is not cancellation of debt.
Generally, just entering the proper amount in the disposition section (like a sale) gets the job done.