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A taxpayer received Form 1099-A with box 5 checked,indicating recourse debt. This informs the tax preparer...

A taxpayer received Form 1099-A with box 5 checked,indicating recourse debt. This informs the tax preparer that?

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If Box 5 on Form 1099-A is checked, then it shows if you were liable for the debt at the time it was created or, if modified, at the time of the most recent modification.

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