Why Did I Get a 1099-C and What Do I Do With It?
Then January comes and you get this form in the mail, this 1099-C. You have no idea what it is or why you have it or what you’re supposed to do with it.
The Greatest Middle-Class Tax Break
Home ownership means having a mortgage and paying property taxes. Quite a burden, financially, but the government helps you carry it. You’re busy building equity as you pay for your home, while the government lets you deduct your mortgage interest and property taxes from your income, reducing your tax liability.
