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A taxpayer received a form 1099 Dash A with box 5 checked indicating recourse debt. This informative tax preparer that there may be taxable income
A taxpayer received a form 1099 Dash A with box 5 checked indicating recourse debt. This informative tax preparer thatthere may be taxable income associated with the event there cannot be taxable income associated with the event The document is not reporting calculation of debt income, so this is not relevant unless form 1099C is also received There can be capital gain from the event but not ordinary income
there may be taxable income associated with the event
there cannot be taxable income associated with the event
The document is not reporting calculation of debt income, so this is not relevant unless form 1099C is also received
There can be capital gain from the event but not ordinary income
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