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if I walked away from a Co-op do I need to keep that address on my tax return

1 Answers. Asked on Mar 13th, 2017 on Residential Real Estate - New York
More details to this question:
I walked away from a co-op 5'years ago. I have not paid the mortgage or maintenance fees but the bank has( Wells Fargo has paid the mortgage and the maintenance fees for me). I do not live there and the co-op is not in foreclosure yet. My accountant advises me to keep the co-op address on my tax return (even though I don't live there) so when there is debt forgiveness it's seen as my primary residence. However this tax year I was a victim of tax fraud so having the co-op address on my tax return is causing a problem. My Question is - is it worth keeping the old address or would it be ok to update the IRS with my current address.
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Answered on Mar 14th, 2017 at 6:07 AM

If you do not live there it is not your primary residence.  The tax issues need to be worked out with your accountant, but there is something unusual about a co-op taking no action in five years if you are not paying anything or doing anything.

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