1099 C NOTICE – This is important information and being furnished to the IRS .

If you are required to file a return a negligence penalty or other sanction may be imposed on you if taxable income results from this transaction and the IRS determines it has not been reported

Now we attack the foreclosure

If you own stock  (ATM LLC) that became worthless last year. Is this a bad debt? How do I report my loss?

Answer: If you own securities, including stocks, and they become totally worthless, you have a capital loss but not a deduction for bad debt. Worthless securities also include securities that you abandon. To abandon a security, you must permanently surrender and relinquish all rights in the security and receive no consideration in exchange for it.

Treat worthless securities as though they were capital assets sold or exchanged on the last day of the tax year. You must determine the holding period to determine if the capital loss is short term (one year or less) or long term (more than one year).
Report worthless securities on Form 8949, Part I or Part II, whichever applies. Indicate as a worthless security deduction by writing Worthless in the applicable column of Form 8949.

Additional Information:
– Tax Topic 453 – Bad Debt Deduction
– Publication 550, Investment Income and Expenses (Including Capital Gains and Losses)
– Losses (Homes, Stocks, Other Property)
– Category:
– Capital Gains, Losses, and Sale of Home

See the IRS website for more information

It’s a tax matter issue for God’s sake



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COME NOW THE AUDITOR AS EXPERT engaged by DEFENDANT __________________, making a special appearance in the above entitled matter for the Defendant “Upper Case” entity  who files in motion the following order to dismiss:

Whereas the court to date has heard arguments for Plaintiffs/ purported creditors request to enforce its power of sale under the Case number 2016 CA -009109 in District of Columbia Superior Court filed by petitioners on 12/15/16 and entered onto docket on 12/16/2016 and where such was entered as of the 11 year anniversary of the  contracts orgination

Defendant for above entitled case files this request in motion seeking DISMISSAL and to strike earlier order for summary judgement granting the anticipated sale scheduled for 9-11-2017 AND 5-11-2018 as follows:

Discovery revealed the court erred in order granting sale for interest sold in an abusive tax matter partnership whereas the instrument the plaintiffs enforces is affirmed a transfer instrument “SECURITY DEED” for TRANSFER OF RIGHTS IN “THE” PROPERTY.

Therein the instrument states “… For this purpose, Borrower does hereby mortgage, grant and convey to Lender, with power of sale, the following described property . . .

Furthermore, it states as BORROWER COVENANTS “. . . . that Borrower is lawfully seized of the estate meaning always named herein for purposes known or unknown, conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record.” .

Petitioning party pursues the title conveyed into trust to a fiduciary as trustee as tax deferred transfer and sale  for contracts TRANSFER RIGHTS IN PROPERTY whereas the election for the cancellation of debt resulted and is causal to the involuntary conversion of title.

Borrower as of the date shown _______ and no later than _______transferred title in a tax deferred sale by tax code and rules in part found in  sections 1033 and 1031 deferred exchanges as consideration causal  to such  EXCHANGE FOR THE CANCELLATION OF DEBT AND THE INVOLUNTARY CONVERSION OF TITLE TO DEPOSITS

LET THIS COURT CONSIDER THE MATTER OF REVERSE ROLES where a mortgagee is by its own election the obligor to the Payee as the consumer  who inoperative law is established a creditor

COD Income – The creditor converted to a OBLIGOR , and fiduciary holding dominion over all title and thereupon can mortgage, then grant and convey, with power of sale the described property therein a series of events described as from the time the property is placed into service starting as of 04/01/2010

Mortgagor converts to a Payee for receivables held in 26 US COde sections 61 (a) (1) and 108 (i) sections 1031 and 1033; 1038 and thus is the recognized creditor in the transaction lender exists the transaction as a recorded bonafide sale by constructive liquidation .