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  3. a taxpayer received a form 1099 dash a with box 5

A taxpayer received a form 1099 Dash A with box 5 checked indicating recourse debt....

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Accounting

A taxpayer received a form 1099 Dash A with box 5 checked indicating recourse debt. This informative tax preparer that
there may be taxable income associated with the event
there cannot be taxable income associated with the event
The document is not reporting calculation of debt income, so this is not relevant unless form 1099C is also received
There can be capital gain from the event but not ordinary income

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