Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
sundee7777
Level 1

I filed bankruptcy in 2018 and Bluegreen sent me a 1099-A The timeshare was included in the bankruptcy. Do I need to report this. If I do how do I get the 1099-A page ?

 
1 Best answer

Accepted Solutions
AlanT222
Expert Alumni

I filed bankruptcy in 2018 and Bluegreen sent me a 1099-A The timeshare was included in the bankruptcy. Do I need to report this. If I do how do I get the 1099-A page ?

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 onto this form and keep it with your tax records.

On the other hand, if you got a 1099-A for business or investment property (like a rental), we highly recommend that you consult a tax professional for further advice.

 

The Timeshare would be considered personal property.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
AlanT222
Expert Alumni

I filed bankruptcy in 2018 and Bluegreen sent me a 1099-A The timeshare was included in the bankruptcy. Do I need to report this. If I do how do I get the 1099-A page ?

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 onto this form and keep it with your tax records.

On the other hand, if you got a 1099-A for business or investment property (like a rental), we highly recommend that you consult a tax professional for further advice.

 

The Timeshare would be considered personal property.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

Dynamic AdsDynamic Ads
Privacy Settings
v