ColeenD3
Expert Alumni

Get your taxes done using TurboTax

If you received a 1099 for income for the sale/cancelled debt/foreclosure/repossession of your former home, your portion of the gain could be taxable. It might be best to consult an attorney.

 

You may be able to file Form 982 to see if you qualify for insolvency

 

Please see this LINK for more information regarding Form 892 and this LINK for canceled debt.