==Blitz== wrote:
- quote -

Well, did you ever buy any property and default? Sometimes
the mortgage company ending up with the mortgage (having
been sold down the line some time) might be a name you
don't recognize.

Christmas Cheer$,
Harlan Lunsford, EA n LA

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"Harlan Lunsford" <hlunsfordns[at]bellsouth.net> wrote:
- quote -

No.

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"D. Stussy" <kd6lvw[at]bde-arc.ampr.org> wrote:
- quote -

Thanks

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==Blitz== wrote:

- quote -

If the IRS were to pursue this to court (by issuing you a
90-day letter forcing you to petition the Tax Court), they
have the burden of proof on income items (including relief
of debt, which is what a 1099-C represents). Therefore,
make them do this. Right now, definently challenge it so as
to get the verification procedure started before court
becomes necessary.

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==Blitz== wrote:

- quote -

Maybe you were in 1997, and maybe you did not buy property
in that year, but did any mortgage company repossess
property they had financed for you during 1997? If so,
you have your answer.

Christmas Cheer$,
Harlan Lunsford, EA n LA

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Got bad news from IRS. A mortgage company that I had never
heard of filed a 1099-C in 1997. Some research of the
company has revealed that the mortgage company no longer
exist under the filer name and I am following a trail of
acquisitions to locate the company now.

Reading the filing instructions for 1099-C for 1997 the
filer is required to keep records for four years. Am I
wasting my time trying to track down the original filer
since they were only required to keep their records for four
years?

Can I merely challenge the correctness of 1099-C? There is
information on the 1099-C sent to IRS that just does not
make sense to me i.e. 1099-C block 5 (Debt description) is
"buydown". I did not purchase property in 1997. This is
where I like research info, particularly regarding the
burden of credibility on the filer of the 1099-C.

Or, should I just file a IRS Form 982 (line 1B and 2) to
cancel this debt and end this nightmare? It would be
factually correct to file the IRS Form 982, I was
financially destitute and incapable of paying any debts
during this time period.

Thanks,
Bliz

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