My question involves a mortgage in the state of: Illinois
I received a 1099A in 2009 for a property that foreclosed. It has been 2 years and I still haven't received a 1099C. The 1099A was never filled with taxes per my accountant's advice. Is it normal not to receive a 1099C? Should I amend my tax return to reflect the 1099A?
On my 1099A it says that i am personally liable for the loan and the FMV is lower than my purchase price (loan balance).
I have not went through bankruptcy either.
Please help I am super concerned.