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marcpaula99
marcpaula99
Level 1
posted
‎June 3, 2019 12:29 PM
last updated ‎June 03, 2019 12:29 PM

I received a form 1099A for a timeshare foreclosure. How do i use turbotax to enter the info? Or do i need to enter any info. Is this a reportable tax event?

 
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HelenC1
HelenC1
Level 1
‎June 3, 2019 12:29 PM

I received a form 1099A for a timeshare foreclosure. How do i use turbotax to enter the info? Or do i need to enter any info. Is this a reportable tax event?

No, you don't need to report it since this Form 1099-A related to personal property. Read more below: https://ttlc.intuit.com/replies/3299944 

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marcpaula99
marcpaula99
Level 1
‎June 3, 2019 12:30 PM

I received a form 1099A for a timeshare foreclosure. How do i use turbotax to enter the info? Or do i need to enter any info. Is this a reportable tax event?

TurboTaxHelenC, thank you for the quick response.  I just learned that my timeshare is "deeded" and not "right-to-use".  It is my understanding that "deeded" timeshares are considered real estate and not personal property.  If that's true, do I still need to use the 1099A?
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