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house boats for sale
1099-C for 2008 - How screwed am I ?
I just received a 1099-C for 2008 on a debt that was canceled for a house I did a short sale on. The amount of debt canceled is for $70,831.79. and this is for the 2nd on the house I thinking I will get one for the 1st as well. From what I read, I will have to file this as income along with the 1st which Im pretty sure I will get. If I do this, that will put my income over $150,000. So my question is, how screwed am I ? Will I have to pay a boat load of money to the IRS or how does it work ?
Thanks.
If this was NOT your principal residence, yes, that's pretty much how it works. If it was your principal residence, you may qualify for a debt cancellation exclusion under the 2007 Mortgage Relief Act. File form 982. See the IRS publication Canceled Debts, Foreclosures, Repossessions, and Abandonments, linked below.
Not knowing your financial situation, the exercise of figuring exactly how screwed you are is quite impossible, though.
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| | Drain Valve for Transom Boats $12 Replacement drain valve for your 12.6sr or 14sr Sport Runabout. |
| | AB285 $39 Oar Set for Frameless Fishing Boats |
| | AL Seat Cushion $9 Foam padded cushion for aluminum bench seat for transom boats. |
| | Davit Kit $459 Designed and patented by Weaver Industries, the RBD 100 is the world standard for inflatable boats. Davit kit includes all hardware to mount davits on the swim platform of your boat. Glue for Sea Eagle boats included. Call if you are using this kit on other boats. |
| | Floorboard Bag $49 This bag is made of 440 denier Nylon and features a pouch for stringers and other parts. Keeps your floorboards neat and compact. Fits floorboards for all Sport Runabout Boats and the SE8 and SE9 Motormount Boats. |
| | 124smb Start Up Inflatable Boat Package $499 The largest of Sea Eagle's motormount boats, this roomy and durable inflatable fishing platform is just a fraction of the cost of other fishing boats. The 124smb is even portable enough to pack in a car trunk. |
| | 124smb Fisherman's Dream Inflatable Boat Package $699 The largest of Sea Eagle's motormount boats, this roomy and durable inflatable fishing platform is just a fraction of the cost of other fishing boats. The 124smb is even portable enough to pack in a car trunk. |
| | Swivel Seat $68 This comfortable Swivel Seat can be used on many of our Sea Eagle boats. For use on Motormount boats, Sport boats, and the FoldCats the seat can be mounted on a 54 qt. cooler which will fit snugly into any of these boats. (Please note, hardware and bench are not included.) This seat can also be attached to our Seat Spider. This seat CANNOT be attached to a single bench seat (WS25, WS2505 or SPW). |
| | Whitevalve $7 Current valve for Sport Kayaks and Motormount Boats. (if your boat is 1998 or earlier, please contact us to verify this is the correct valve) |
| | Vyna Bond Glue $19 For larger repairs on our boats we suggest a 12 oz. can of Vyna Bond PVC Glue. |
| | Recessed One Way $10 Recessed One Way Valve for Transom Boats, Explorer Kayaks, FastTrack kayaks, FoldCats, and Paddleski. |
| | Small Green D-Ring $6 Reinforced fabric and corrosion resistant metal make these D-Rings a permanent addition to your boat. Great for green 385ftg FastTrack, 285fpb and STS10 Frameless Fishing Boats. Not for use on SE330, SE370, SE6, SE8, SE9 and 124smb boats. Includes glue. |
| | Medium Green D-Ring $9 Reinforced fabric and corrosion resistant metal make these D-Rings a permanent addition to your boat. Great for green 385ftg FastTrack, 285fpb and STS10 Frameless Fishing Boats. Not for use on SE330, SE370, SE6, SE8, SE9 and 124smb boats. Includes glue. |
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2001 Sumerset Houseboats 75x18 349000 in Lake Powell, UT
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