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New Member
posted May 15, 2021 12:44:08 PM

1099-A

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

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2 Replies
Level 15
May 15, 2021 12:52:25 PM

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

Expert Alumni
May 15, 2021 1:00:02 PM

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?