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After Brittany stopped making her mortgage payments, the lender foreclosed on her home and issued her a Form 1099-A. The outstanding balance on the recourse
After Brittany stopped making her mortgage payments, the lender foreclosed on her home and issued her a Form 1099-A. The outstanding balance on the recourse loan was $232,000, and the fair market value of the property on the date of foreclosure was $215,000. What is Brittany's amount realized from the foreclosure? $0 $17,000 $215,000 $232,000
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Frank Hodge
10th edition
1259964949, 1259964947, 978-1259964947
