My client had cancellation of debt reported on 1099-C in year 2011. She will likely be able to use insolvency to exclude some or all of the debt cancelled. For purposes of calculating value of her residence, can the county tax assessor's value be used? I remember seeing attorney's use the county tax assessor's value for purposes of inventorying assets for probate, for other clients, in the past.
- posted
11 years ago