It depends.
Form 1099-A would only need to be used when filing your tax return if it was received as part of a business or investment property. If this vacation ownership was for personal use and you had a loss, you would only need to hold on to the form and retain it with your tax records. However, if the abandonment results in a gain, you would need to report any gains on your tax return when you file.
Please also see What Is IRS Form 1099-A (Acquisition or Abandonment of Secured Property)? for more details on this form.
[Edited 7/22/2025|12:45PM PST]
@JotikaT2 wrote:
If this vacation ownership was for personal use, you would only need to hold on to the form and retain it with your tax records.
That is wrong.
A 1099-A is treated as a 'sale' on the tax return. While a 'sale' that results in a loss for personal-use property may not need to be reported (although I would still report it, but as a non-deductible loss), in some cases it result in a GAIN which DOES need to be reported.