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jyleon_accounting_and_tax
Level 1
April 13, 2024
Question

About Form 1099-A

  • April 13, 2024
  • 1 reply
  • 3 views

My client bought a timeshare on credit and decided to abandon it, he received a Form 1099-A, and I don't know how to enter it, I have read the aid they have, but I don't understand

Thanks for the Help

 

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1 reply

George4Tacks
Level 15
April 13, 2024

This may help https://www.irs.gov/taxtopics/tc432

Walking away from a property is very much like SELLING the property back to the back for the  debt owed.

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