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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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2 Replies
HelenC1
Expert Alumni

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.

 

[Edited 3-10-2020|11:40 am PST]

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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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