I have a 1099-A from my Timeshare cancellation, does that need to be reported on my 1040?

[MonikaK1]

You don't enter Form 1099-A Cancellation. Keep it for your records, you may still get a 1099-C. The Form 1099-C, Cancellaton of Debt, will need to be entered.

You may get Form 1099-A (Acquisition or Abandonment of Secured Property) if your lender foreclosed on your mortgage or repossessed property as a result of a defaulted loan.

If your 1099-A is for personal property, like your personal residence or automobile, you don't need to report it. However, hang on to this form and keep it with your tax records.

See here for a detailed discussion of this issue.