I have 2 LLCs in TX. One was a holding company for a commercial property and the other was the operating business.

I filed ch 7 bankruptcy on the holding company in Jan of 09, and the commercial property was foreclosed on, and is now owned by the bank. The foreclosure occurred during the bankruptcy, they filed relief from the automatic stay before the foreclosure. I also filed personal bankruptcy (ch 7) as I was a guarantor on the loan. My operating business did not file, but is no longer operating.

The holding company was solely listed on the Deed of Trust, although the operating business and myself were listed on the other loan documents.

I received a 1099-A a few weeks ago. It was made out, not to the holding company, but to the operating company. It shows a balance on the loan of 550K and a FMV of 250K.

I was advised by an accountant that the difference will count as income and pass over onto my personal return.

The reason for filing the bankruptcy was in large part to avoid being responsible for the deficiency balance on the property. I believe that the 1099 should have gone to the holding company and not the operating company, or should it have gone to the bankruptcy estate as the building was an asset of the bankruptcy?

Do I need to try to get the mortgage company to correct this, or is there a way for me to file a form correcting this? If there is a CPA in the Houston TX area on the board who is familiar with this type of issue I am looking for someone to prepare my returns this year.