No matter how the is sold(sheriff sale/short sale) if the lender gets less that what they loan out, the 1099 can always be issued. However, the owner can contest the 1009 income tax with the IRS. Most times they won't have to pay if they have a good case.
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No matter how the is sold(sheriff sale/short sale) if the lender gets less that what they loan out, the 1099 can always be issued. However, the owner can contest the 1009 income tax with the IRS. Most times they won't have to pay if they have a good case.