We own interest in a cabin because our grandfather put our names on the title previous to his death many years ago. An uncle sold trees from the property to a logging company without our knowledge and claims he put all of the proceeds into the cabin. The check was not made out to us, but to our uncle and grandmother. Now we have received a 1099 tax form (on April 5) for $5700 we never received. Are we liable to claim this money we never knew existed and was not paid to us? If so, our taxes have already been filed, how is this handled?
1 Answer from Attorneys
Too many issues and questions before we even begin to analyze. Who is issuing the 1099 and when did you receive it? You should have received it prior to January 31, if any. Who else is on the title?
Please give us a call at 734-779-1662 and we'd be happy to assist you.
Thanks, JS
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