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Deductions & credits
To expand a bit on @Critter-3 's response:
If your 1099-A is for personal property, like your personal residence or automobile, you don't need to report it. However, hang on to 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.
May 15, 2021
1:00 PM
561 Views