PattiF
Expert Alumni

Retirement tax questions

The amounts in Box 2 and Box 4 shows that the amount owed on the property and the Fair Market Value of the property is the same. So there would be no "gain or loss".

 

This is generally an informational form and you do not need to enter this in your tax return. This is often issued by a lender that foreclosed on your timeshare. Hang on to this form and keep it with your tax records.

 

The information on this would be used if you got a 1099-A for business property or investment property like a rental, you would need to consult a tax professional.

 

@tmekm55812 
 

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