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If the bank has checked No on Box 5 of the 1099-A form, does that mean that they will not ask me to repay that balance?

jerry · Posted: Fri Apr 09, 2010 12:13 am Post subject:

Hi LLS,

The box number 5 on the 1099A Form shows whether you are personally liable for the repayment of the loan. If the box 5 is checked as 'No', it means you are not personally liable to repay the loan and the lender does not seem to be coming after you to recover the balance from you.

Thanks,

Jerry

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