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There are some complexities here, but the short answer is maybe (of course, it is never easy when dealing with the IRS).
If the mortgage (or HELOC, Credit Card, Car Loan, etc) was only in one person's name... then the 1099C belongs only with that person. No wiggle room here.
If, however, the note was in both names, and both were responsible, then you could perform a split. You would need to include an explanation with your return that details your ex's Name and SSN, and likewise they should do the same on their return referencing you. This ensures that the whole debt is accounted for, but each of you becomes responsible for your own share - note it doesn't have to be a 50/50 split, but you do need to reach an agreement, otherwise it could come back to haunt you.
A note about cancelled debt - you don't say what type of debt this is, but it is possible it can be excluded entirely by submitting form 982, therefore it does not matter who claims the amount. At a high level - in order for 982 to apply, there would have to be a bankruptcy, insolvency, or the debt must be fully representative of primary residence indebtedness. You should talk with your tax adviser to see if form 982 applies to your situation.
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∙ 12y ago
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What is Corey's and Leah's relationship now from teen mom 2?
Cory and Leah split and are filing for divorce after Leah admitted to cheating on Cory at the start of their relationship.
What are synonyms for divorce?
Separation Split Split Up
I have been separated from my spouse for 30 months and I have no children with her and no property to split but she wont sign divorce papers what do I do?
You should seek legal advice and file divorce papers against her. Your lawyer will draw up papers stating why you are filing for divorce. In most States a divorce would be granted for several reasons, one being 'alienation.'
When did will smith's parents split up?
They split up when he was 13 but they didnt officially divorce until 2002
Does your property get split up in fable 3 when you divorce someone?
no
Why did Henry VIII split the church?
Cause he could not get divorce.
What is it called when you divorce while engaged?
Seperation; Split; Dis-Engaged
Angelina filing a divorce with brad?
No. First off, you cant get a divorce if you aren't married and they aren't married. What happened, was that because they are committed to one another and their 6 children but aren't legally together, they decided to hire a lawyer IN CASE anything occurred- a death, a split, etc. They discussed what would happen to the kids (they would live with Angelina but visit with Brad), and most likely about how they would split their money and possessions- but what would happen to that is unknown to the public.
What is the duplex numeric system in filing?
Duplex numeric is a system of filing that uses a group of two or more code numbers split up by commas, periods, spaces or dashes. It is used for identification of a document as well as for filing it.
Did Jennifer Lopez get a divorce?
Not yet, but her and husband Marc Anthony have recently split up.
If you have a house before you were married in nys does it get split in a divorce?
No, not unless you put your spouse on the deed.
If my children are split in a divorce how much child support will have to be paid?
100 dollars at least a month.
