Hi,
I am a green card holder living in Europe for several years. I´ve purchased a condo in Florida as investment in 2005 and stopped paying about a year ago. I am dealing with the bank a deed in lieu but I realized it will produce a 1009 for aprox $160K. Question is: do I get a 1099 also in a foreclosure? As I live abroad, I dont really care about credit scores or even deficiency judgments, as I dont think they will pursue it in Europe. Then my only concern is the 1099, as I pay taxes to IRS every year and cannot escape that.
Please confirm,
Regards.