My wife filed for chp7 in April 2011, there was a Time Share (that was the main reason she did it). This year, we received a 1099-A, 11 years later, is this allowable?

[the7herogamer-gm]

My wife filed for Chapter 7 in April 2011, in there, she put a Time Share (that was the main reason she filed because they did not wanted to cancel it or stop the process). This year, we received a 1099-A, 11 years later, is this allowable? On box 1 "05/12/2022". Box 5 "Checked". Amounts on Box 2 and 5. Box6 "Vacation Ownership Interest". I was doing our taxes and getting a refund, adding this, we have to pay. What can we do?

[MaryK4]

You do not have to enter the 1099-A if it's for personal property, such as a home or a car, you don't need to report it in your return. Keep this form for your records in case you get a 1099-C that indicates the debt has actually been forgiven.

[the7herogamer-gm]

Even though it was 11 years ago? is there a time limitation for them to send that 1099-C? The bankruptcy was 11 years ago and they never sent us a "Late Fee" letter or anything. So we just "not worry" about it, correct?

Thank you for your quick response

[MaryK4]

Because she filed for Bankruptcy, the debt is cleared (that is the purpose of the bankruptcy)- it is strange that they waited so long (if I had to guess they probably never took it off their books so this is how they are closing it out).

[the7herogamer-gm]

I see, Thank you very much MaryK4