- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I received a 1099a form from a resort at which I owned a timeshare. I let it go via Warranty Deed in lieu of foreclosure. Do I need to report anything from this form on my tax return?
Topics:
June 4, 2019
10:11 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Form 1099-A is often more informational than actionable. If you received a 1099-A because you have abandoned personal property, such as a car, you don't need to report it in your return.
IMPORTANT: If you received a 1099-A for a business- or investment-related property, such as a rental property or company car, see IRS Publication 544 Sales and Other Disposition of Assets and IRS Publication 4681 Canceled Debts, Foreclosures, Repossessions and Abandonments before continuing.
June 4, 2019
10:11 PM