Central District Consumer Bankruptcy Attorney's Association

everyone is assuming this is a single person case, although you have not so stated. If your case is just for one debtor, the answers are correct. if a two person case, and the estate will be filing a return, then a 1099 to the estate will also work.
d
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Jun 5, 2014, at 10:58 AM, "Jason Wallach jwallach@gladstonemichel.com [cdcbaa]" wrote:
>
> Has to be reported same way as title was held on the house; that is what sold. 363 sale order and blocked accounts are just sidelights.
>
> Jason
> --
> JASON WALLACH, ESQ.
> Gladstone Michel Weisberg Willner & Sloane, ALC
> 4551 Glencoe Avenue, Suite 300
> Marina del Rey CA 90292-7925
> Tel: (310) 821-9000
> Direct: (310) 775-8725
> Fax: (310) 775-8775
> Email: jwallach@ gladstonemichel.com
> www. gladstonemichel.com
>
>> On Jun 5, 2014, at 10:03 AM, Jim Selth jim@wsrlaw.net [cdcbaa] wrote:
>>
>>
>>
>> A question for the Chapter 11 practitioners. Our Chapter 11 DIP client is selling a residence under a 363 sale order. The funds will be going to a blocked account to pay creditors. The debtor is separated and the house is community property with the non-debtor spouse. Escrow has asked how the 1099-S should be reported? Any ideas?
>>
>>
>>
>> Jim
>>
>>
>>
>> James R. Selth
>> Certified Bankruptcy Specialist*
>> Weintraub & Selth, APC
>> 11766 Wilshire Boulevard, Suite 1170
>> Los Angeles, California 90025
>> Telephone: (310) 207-1494
>> Facsimile: (310) 442-0660
>> E-Mail: jim@wsrlaw.net
>>
>> *Certified by State Bar of California as Certified Legal Specialist in Bankruptcy Law
>>
>> NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENT OF THE TRANSMISSION AND THIS COMMUNICATION IS INTENDED TO BE PRIVILEGED BY LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE, DISSEMINATION, DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED. PLEASE NOTIFY US IMMEDIATELY OF THE ERROR BY RETURN-E-MAIL AND PLEASE DELETE THIS MESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION.
>
>

The post was migrated from Yahoo.

Presumably 50% of gross sale price to each transferor unless there is a reason for a different allocation. See IRS instructions re 1099-s multiple transferors.
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
Telephone: (310) 391-2400* Toll Free: (800) 307-3328 * Fax: (310) 391-2462
On Thursday, June 5, 2014 10:58 AM, "Jason Wallach jwallach@gladstonemichel.com [cdcbaa]" wrote:
Has to be reported same way as title was held on the house; that is what sold. 363 sale order and blocked accounts are just sidelights.
Jason
JASON WALLACH, ESQ.
Gladstone Michel Weisberg Willner & Sloane, ALC
4551 Glencoe Avenue, Suite 300
Marina del Rey CA 90292-7925
Tel:(310) 821-9000
Direct:(310) 775-8725
Fax:(310) 775-8775
Email:jwallach@gladstonemichel.com
www.gladstonemichel.com
On Jun 5, 2014, at 10:03 AM, Jim Selth jim@wsrlaw.net [cdcbaa] wrote:
>
>
>A question for the Chapter 11 practitioners. Our Chapter 11 DIP client is selling a residence under a 363 sale order. The funds will be going to a blocked account to pay creditors. The debtor is separated and the house is community property with the non-debtor spouse. Escrow has asked how the 1099-S should be reported? Any ideas?
>
>Jim
>
>James R. Selth
>Certified Bankruptcy Specialist*
>Weintraub & Selth, APC
>11766 Wilshire Boulevard, Suite 1170
>Los Angeles, California 90025
>Telephone: (310) 207-1494
>Facsimile: (310) 442-0660
>E-Mail: jim@wsrlaw.net
>
>*Certified by State Bar of California as Certified Legal Specialist in Bankruptcy Law
>
>NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENT OF THE TRANSMISSION AND THIS COMMUNICATION IS INTENDED TO BE PRIVILEGED BY LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE, DISSEMINATION, DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED. PLEASE NOTIFY US IMMEDIATELY OF THE ERROR BY RETURN-E-MAIL AND PLEASE DELETE THIS MESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION.
>
>

The post was migrated from Yahoo.

charsetndows-1252
Has to be reported same way as title was held on the house; that is what sold. 363 sale order and blocked accounts are just sidelights.
Jason
JASON WALLACH, ESQ.
Gladstone Michel Weisberg Willner & Sloane, ALC
4551 Glencoe Avenue, Suite 300
Marina del Rey CA 90292-7925
Tel: (310) 821-9000
Direct: (310) 775-8725
Fax: (310) 775-8775
Email: jwallach@ gladstonemichel.com
www. gladstonemichel.com
On Jun 5, 2014, at 10:03 AM, Jim Selth jim@wsrlaw.net [cdcbaa] wrote:
>
> A question for the Chapter 11 practitioners. Our Chapter 11 DIP client is selling a residence under a 363 sale order. The funds will be going to a blocked account to pay creditors. The debtor is separated and the house is community property with the non-debtor spouse. Escrow has asked how the 1099-S should be reported? Any ideas?
>
>
>
> Jim
>
>
>
> James R. Selth
> Certified Bankruptcy Specialist*
> Weintraub & Selth, APC
> 11766 Wilshire Boulevard, Suite 1170
> Los Angeles, California 90025
> Telephone: (310) 207-1494
> Facsimile: (310) 442-0660
> E-Mail: jim@wsrlaw.net
>
> *Certified by State Bar of California as Certified Legal Specialist in Bankruptcy Law
>
> NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENT OF THE TRANSMISSION AND THIS COMMUNICATION IS INTENDED TO BE PRIVILEGED BY LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE, DISSEMINATION, DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED. PLEASE NOTIFY US IMMEDIATELY OF THE ERROR BY RETURN-E-MAIL AND PLEASE DELETE THIS MESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION.
>
>
>
charsetndows-1252
Has to be reported same way as title was held on the house; that is what sold. 363 sale order and blocked accounts are just sidelights.Jason
-- JASON WALLACH, ESQ.Gladstone Michel Weisberg Willner & Sloane, ALC4551 Glencoe Avenue, Suite 300Marina del Rey CA 90292-7925Tel: (310) 821-9000Direct: (310) 775-8725Fax: (310) 775-8775Email: jwallach@ gladstonemichel.comwww. gladstonemichel.com
On Jun 5, 2014, at 10:03 AM, Jim Selth jim@wsrlaw.net [cdcbaa] wrote:

A question for the Chapter 11 practitioners. Our Chapter 11 DIP client is selling a residence under a 363 sale order. The funds will be going to a blocked account to pay creditors. The debtor is separated and the house is community property with the non-debtor spouse. Escrow has asked how the 1099-S should be reported? Any ideas? JimJames R. SelthCertified Bankruptcy Specialist*Weintraub & Selth, APC11766 Wilshire Boulevard, Suite 1170Los Angeles, California 90025Telephone: (310) 207-1494Facsimile: (310) 442-0660E-Mail: jim@wsrlaw.net *Certified by State Bar of California as Certified Legal Specialist in Bankruptcy Law NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENT OF THE TRANSMISSION AND THIS COMMUNICATION IS INTENDED TO BE PRIVILEGED BY LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE, DISSEMINATION, DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED. PLEASE NOTIFY US IMMEDIATELY OF THE ERROR BY RETURN-E-MAIL AND PLEASE DELETE THIS MESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION.

The post was migrated from Yahoo.

A question for the Chapter 11 practitioners. Our Chapter 11 DIP client is selling a residence under a 363 sale order. The funds will be going to a blocked account to pay creditors. The debtor is separated and the house is community property with the non-debtor spouse. Escrow has asked how the 1099-S should be reported? Any ideas?
Jim
James R. Selth
Certified Bankruptcy Specialist*
Weintraub & Selth, APC
11766 Wilshire Boulevard, Suite 1170
Los Angeles, California 90025
Telephone: (310) 207-1494
Facsimile: (310) 442-0660
E-Mail: jim@wsrlaw.net
*Certified by State Bar of California as Certified Legal Specialist in Bankruptcy Law
NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENT OF THE TRANSMISSION AND THIS COMMUNICATION IS INTENDED TO BE PRIVILEGED BY LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE, DISSEMINATION, DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED. PLEASE NOTIFY US IMMEDIATELY OF THE ERROR BY RETURN-E-MAIL AND PLEASE DELETE THIS MESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION.

The post was migrated from Yahoo.