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Learn More About Form 1099-A

What is a 1099-A?

Form 1099-A is used to report acquisition or abandonment of secured property.

Why do I file 1099-A?

The IRS requires that all income and deductible expenses are reported by businesses and individuals or penalties could apply.

Who needs to file 1099-A?

File Form 1099-A, Acquisition or Abandonment of Secured Property, for each borrower if you lend money in connection with your trade or business and, in full or partial satisfaction of the debt, you acquire an interest in property that is security for the debt, or you have reason to know that the property has been abandoned. You need not be in the business of lending money to be subject to this reporting requirement. See the official IRS instructions.

When do I file 1099-A?

1099-A forms are required to be mailed to the recipient by January 31, 2018 and E-filed with the IRS by April 2, 2018.

1099-A Reporting Information

What to report Amount to report
Information about the acquisition or abandonment of property that is security for a debt for which you are the lender. $600 or more