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    Godbey's Avatar
    Godbey Posts: 1, Reputation: 1
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    #1

    Feb 8, 2010, 10:59 AM
    1099-A what is it used for
    I received a 1099-A for a home I foreclosed on in 2008. On my 1099-A Box 2: is the same as Box 4: Plus I need to know if I should still be paying on this home?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    Feb 8, 2010, 11:26 AM

    Box 2 = Box 4 means that there was no cancelation of debt when the lender foreclosed on your home. So you have no income tax issues here.

    If the property was foreclosed on, why would you still be paying anything on it? It's not yours any more.
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