Filing taxes after bankruptcy

[forge]

hello everyone! I filed chapter 7 in january 2011, and was discharged in may of 2011. my mortgage lender started the foreclosure proceedings, which my lawyer got a relief on. I surrendered the house in the bankruptcy, and the debt was discharged. I moved out of the house just prior to the commissioners sale in august of 2011, and as far as i can tell, the home was sold in october of 2011 (after, i assume, the bank bought it at the auction).

My question is this regarding my taxes - from what i read on the irs website, it states that i don't have to report a 1099c if the debt was discharged in bankruptcy because that cancellation of debt is not taxable since it came through the bankruptcy. If that's the case, i can go ahead and file now. but i have no idea if i'm still supposed to put this on the tax return -- I have no idea if i'll even get a 1099 from the bank (1099c or 1099a or both?). the bank has been no help in this matter. Can anyone tell me what's standard in this situation? what exactly happens? should i wait? can i go ahead and file? Thanks for the help everyone!

[keepsmiling]

Someone recently reported their 1099 first showing up 4 years later.
I wouldn't worry about it. Just apply it if and when it shows up for that current tax year.

[tobee43]

there really is no "standard" of time when they issue the 1099A or C's. the A's are usually related to a deficiency is a foreclosure while the C's are most likely from another creditor i.e. credit card companies claiming their losses. it is the creditors way of notification of those losses to the IRS. we all know how slow these banks are with foreclosing so it is conceivable to actually receive these forms years down the road. if you filed bankruptcy, however prior to the end of 2012, you are covered by the mortgage forgiveness debt relief act and debt cancellation.

http://www.irs.gov/individuals/article/0,,id=179414,00.html

the attachment of the 982 will explain the situation. there are exceptions to the rule, so you need to really consult your tax specialist, however, if you fall within the guidelines of the act, you'll be fine.