I received a 1099A that shows my foreclosed home valued $7500 more than what I owed. Am I entitled to the difference?

[Critter]

LOL ... that is just an informational form ... you will only use it if you also get a form 1099-C later. 

[Critter]

LOL ... that is just an informational form ... you will only use it if you also get a form 1099-C later. 

If you have any questions about the home sale contact the bank. 

[Anonymous]

your asking a legal question which can not be answered on this income tax forum.   

[lazzaro38]

Not funny. Tried for three years to sell the house. Lost thousands in home improvements only to have to sign it away. I hope you are never put in that situation.

[lazzaro38]

Could we claim it as a loss on our taxes? It was our primary residence