topic 1099-A in Deductions & credits

1099-A

kehburton — Sat, 15 May 2021 19:44:08 GMT

I have a client that has a 1099-A for abandonment of secured property. Does she have to file it

Re: 1099-A

Critter-3 — Sat, 15 May 2021 19:52:25 GMT

That form is informational and used in conjunction with the 1099-C that may or may not arrive in the next couple of year.

Re: 1099-A

ToddL99 — Sat, 15 May 2021 20:00:15 GMT

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.

See What do I do with Form 1099-A?