How do I create Form 1099-A?

Creating Form 1099-A

  1. Click on the Payer List button.
  2. Double click on the payer name.
  3. Highlight the recipient to add the form to.
  4. Click on the Add Form button.
  5. Choose 1099-A from the Form Type drop down menu.
  6. Fill in the necessary fields on the form:
    • Corrected:  Check this box if it applies.
    • Date of lender's acquisition or knowledge of abandonment:  The date of acquisition of the secured property or the date the property was abandoned.
    • Account Number:  A number assigned to recipient by the payer.  This field is optional except for the following cases:
      • The recipient has multiple returns for the same return type.
      • The returns are filed using the E-file Center.
    • Balance of principal outstanding:  Include only unpaid principal on the original debt. Do not include accrued interest or foreclosure costs.
    • Fair market value of property:  Enter the appraised value of the property or the gross foreclosure bid price.
    • Check here if the borrower was personally liable for repayment of the debt: Check if borrower was personally liable for repayment of the debt.
    • Description of property:  Enter address for real property. Enter applicable type, make, and model for personal property. 
  7. Click Save.  
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