Maybe. Box 2 is for unpaid principal. Box 4 is the Fair Market Value. Box 5 checked means you were responsible for the debt.
The 1099-A can be for abandonment of your main home. You do not file until you get the 1099-C to include in your income.
If this was business property or other canceled debt, it would be taxable income to you.
To check what is right for you, see Topic No. 431 Canceled Debt – Is It Taxable or Not?
Reference: Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments (for Individuals).
Thank you. The 1099A is for cancellation of a "timeshare," its not for a main home. But since box 2 and box 4 are equal, does that mean there is no gain or loss?
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.