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    Attention:: Not File Copy A Downloaded From This Website. The Official Printed Version of This IRS Form Is

    Uploaded by

    Benne James
    The document is an informational notice about filing Form 1099-A for the acquisition or abandonment of secured property. It states that Copy A of the form must be filed with the IRS by February 29, 2016, and Copy B must be provided to the borrower by February 1, 2016. It also provides contact information for questions about reporting requirements on Form 1099-A.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Attention:: Not File Copy A Downloaded From This Website. The Official Printed Version of This IRS Form Is

    Uploaded by

    Benne James
    1K views6 pages
    The document is an informational notice about filing Form 1099-A for the acquisition or abandonment of secured property. It states that Copy A of the form must be filed with the IRS by February 29, 2016, and Copy B must be provided to the borrower by February 1, 2016. It also provides contact information for questions about reporting requirements on Form 1099-A.

    Original Description:

    This form is provided for informational purposes only.

    Original Title

    Form 1099-A

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    © © All Rights Reserved

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    The document is an informational notice about filing Form 1099-A for the acquisition or abandonment of secured property. It states that Copy A of the form must be filed with the IRS by February 29, 2016, and Copy B must be provided to the borrower by February 1, 2016. It also provides contact information for questions about reporting requirements on Form 1099-A.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    1K views6 pages

    Attention:: Not File Copy A Downloaded From This Website. The Official Printed Version of This IRS Form Is

    Uploaded by

    Benne James
    The document is an informational notice about filing Form 1099-A for the acquisition or abandonment of secured property. It states that Copy A of the form must be filed with the IRS by February 29, 2016, and Copy B must be provided to the borrower by February 1, 2016. It also provides contact information for questions about reporting requirements on Form 1099-A.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 6

    Attention:

    This form is provided for informational purposes only. Copy A appears in red, similar to the official IRS
    form. Do not file copy A downloaded from this website. The official printed version of this IRS form is
    scannable, but the online version of it, printed from this website, is not. A penalty may be imposed for
    filing forms that cant be scanned. See part O in the current General Instructions for Certain
    Information Returns for more information about penalties.
    To order official IRS forms, call 1-800-TAX-FORM (1-800-829-3676) or Order Information Returns and
    Employer Returns Online, and well mail you the scannable forms and other products.

    See IRS Publications 1141, 1167, 1179 and other IRS resources for information about printing these
    tax forms.

    8080

    VOID

    CORRECTED

    LENDERS name, street address, city or town, state or province, country, ZIP or
    foreign postal code, and telephone no.

    OMB No. 1545-0877

    2015

    Acquisition or
    Abandonment of
    Secured Property

    Form 1099-A
    LENDERS federal identification number

    BORROWERS identification number

    1 Date of lender's acquisition or


    knowledge of abandonment

    2 Balance of principal
    outstanding

    $
    BORROWERS name

    4 Fair market value of property

    Copy A
    For
    Internal Revenue
    Service Center
    File with Form 1096.

    $
    Street address (including apt. no.)

    5 If checked, the borrower was personally liable for repayment


    of the debt . . . . . . . . . . .

    City or town, state or province, country, and ZIP or foreign postal code

    6 Description of property

    Account number (see instructions)

    For Privacy Act


    and Paperwork
    Reduction Act
    Notice, see the
    2015 General
    Instructions for
    Certain
    Information
    Returns.

    1099-A
    Cat. No. 14412G
    www.irs.gov/form1099a
    Department of the Treasury - Internal Revenue Service
    Do Not Cut or Separate Forms on This Page Do Not Cut or Separate Forms on This Page

    Form

    CORRECTED (if checked)


    LENDERS name, street address, city or town, state or province, country, ZIP or
    foreign postal code, and telephone no.

    OMB No. 1545-0877

    2015

    Acquisition or
    Abandonment of
    Secured Property

    Form 1099-A
    LENDERS federal identification number

    BORROWERS identification number

    Street address (including apt. no.)


    City or town, state or province, country, and ZIP or foreign postal code
    Account number (see instructions)

    1099-A

    2 Balance of principal
    outstanding

    Copy B
    For Borrower

    This is important tax


    $
    information and is being
    4 Fair market value of property furnished to the Internal
    Revenue Service. If you
    are required to file a
    $
    return, a negligence
    penalty or other
    5 If checked, the borrower was personally liable for repayment
    sanction may be
    of the debt . . . . . . . . . . .
    imposed on you if
    6 Description of property
    taxable income results
    from this transaction
    and the IRS determines
    that it has not been
    reported.
    3

    BORROWERS name

    Form

    1 Date of lender's acquisition or


    knowledge of abandonment

    (keep for your records)

    www.irs.gov/form1099a

    Department of the Treasury - Internal Revenue Service

    Instructions for Borrower


    Certain lenders who acquire an interest in property that was security for a loan
    or who have reason to know that such property has been abandoned must
    provide you with this statement. You may have reportable income or loss
    because of such acquisition or abandonment. Gain or loss from an acquisition
    generally is measured by the difference between your adjusted basis in the
    property and the amount of your debt canceled in exchange for the property, or,
    if greater, the sale proceeds. If you abandoned the property, you may have
    income from the discharge of indebtedness in the amount of the unpaid balance
    of your canceled debt. The tax consequences of abandoning property depend
    on whether or not you were personally liable for the debt. Losses on acquisitions
    or abandonments of property held for personal use are not deductible. See Pub.
    4681 for information about your tax consequences.
    Property means any real property (such as a personal residence); any
    intangible property; and tangible personal property that is held for investment or
    used in a trade or business.
    If you borrowed money on this property with someone else, each of you
    should receive this statement.
    Borrower's identification number. For your protection, this form may show
    only the last four digits of your social security number (SSN), individual taxpayer
    identification number (ITIN), adoption taxpayer identification number (ATIN), or
    employer identification number (EIN). However, the issuer has reported your
    complete identification number to the IRS.
    Account number. May show an account or other unique number the lender
    assigned to distinguish your account.

    Box 1. For a lenders acquisition of property that was security for a loan, the
    date shown is generally the earlier of the date title was transferred to the lender
    or the date possession and the burdens and benefits of ownership were
    transferred to the lender. This may be the date of a foreclosure or execution sale
    or the date your right of redemption or objection expired. For an abandonment,
    the date shown is the date on which the lender first knew or had reason to know
    that the property was abandoned or the date of a foreclosure, execution, or
    similar sale.
    Box 2. Shows the debt (principal only) owed to the lender on the loan when the
    interest in the property was acquired by the lender or on the date the lender first
    knew or had reason to know that the property was abandoned.
    Box 4. Shows the fair market value of the property. If the amount in box 4 is less
    than the amount in box 2, and your debt is canceled, you may have cancellation
    of debt income. If the property was your main home, see Pub. 523 to figure any
    taxable gain or ordinary income.
    Box 5. Shows whether you were personally liable for repayment of the debt
    when the debt was created or, if modified, when it was last modified.
    Box 6. Shows the description of the property acquired by the lender or
    abandoned by you. If CCC is shown, the form indicates the amount of any
    Commodity Credit Corporation loan outstanding when you forfeited your
    commodity.
    Future developments. For the latest information about developments related to
    Form 1099-A and its instructions, such as legislation enacted after they were
    published, go to www.irs.gov/form1099a.

    VOID

    CORRECTED

    LENDERS name, street address, city or town, state or province, country, ZIP or
    foreign postal code, and telephone no.

    OMB No. 1545-0877

    2015

    Acquisition or
    Abandonment of
    Secured Property

    Form 1099-A

    1 Date of lender's acquisition or


    knowledge of abandonment

    2 Balance of principal
    outstanding

    BORROWERS name

    4 Fair market value of property

    Street address (including apt. no.)

    5 If checked, the borrower was personally liable for repayment


    of the debt . . . . . . . . . . .

    City or town, state or province, country, and ZIP or foreign postal code

    6 Description of property

    LENDERS federal identification number

    BORROWERS identification number

    Copy C
    For Lender

    $
    $

    Account number (see instructions)


    Form

    1099-A

    www.irs.gov/form1099a

    For Privacy Act


    and Paperwork
    Reduction Act
    Notice, see the
    2015 General
    Instructions for
    Certain
    Information
    Returns.

    Department of the Treasury - Internal Revenue Service

    Instructions for Lender


    To complete Form 1099-A, use:
    the 2015 General Instructions for Certain Information
    Returns, and
    the 2015 Instructions for Forms 1099-A and 1099-C.
    To order these instructions and additional forms, go to
    www.irs.gov/form1099a or call 1-800-TAX-FORM
    (1-800-829-3676).
    Caution. Because paper forms are scanned during
    processing, you cannot file Forms 1096, 1097, 1098, 1099,
    3921, 3922, or 5498 that you print from the IRS website.
    Due dates. Furnish Copy B of this form to the borrower by
    February 1, 2016.

    File Copy A of this form with the IRS by February 29, 2016.
    If you file electronically, the due date is March 31, 2016. To file
    electronically, you must have software that generates a file
    according to the specifications in Pub. 1220, Specifications for
    Electronic Filing of Forms 1097, 1098, 1099, 3921, 3922,
    5498, and W-2G. The IRS does not provide a fill-in form
    option.
    Need help? If you have questions about reporting on Form
    1099-A, call the information reporting customer service site
    toll free at 1-866-455-7438 or 304-263-8700 (not toll free).
    Persons with a hearing or speech disability with access to
    TTY/TDD equipment can call 304-579-4827 (not toll free).

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